sebi:EAD-2/DSR/RG/858/2017
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Facts / Headnote
Settlement - adjudication proceedings initiated vide SCN dated March 03, 2017 disposed of on payment of settlement charges
Regulations
- Reg. 17
- Reg. 15(1)
Holding
This Settlement Order disposes of the adjudication proceedings initiated against the Noticee vide the SCN dated March 03, 2017 upon payment of Rs 3,08,550 towards settlement charges without admission of facts and conclusions of law.
Full text
Page 2 of 3 Proceedings) Regulations, 2014 (hereinafter referred to as the Settlement Regulations) without admission of facts and conclusions of law.
Page 3 of 3 8. In terms of Regulation 17 of the Settlement Regulations, a copy of this order is being sent to the Noticee and is published on the website of SEBI.
4. Pursuant to the said Settlement Application, the Noticee attended the Internal Committee (IC) meeting on August 11, 2017 wherein the settlement terms were deliberated. Thereafter, vide letter dated August 16, 2017, the Noticee proposed the revised settlement terms to settle the defaults mentioned above. The settlement terms as proposed by the Noticee were placed before the High Powered Advisory Committee (HPAC) in its meeting held on September 04, 2017. After considering the facts and circumstances of the case, the HPAC recommended that the settlement application may be settled on payment of the ` 3,08,550/- (Rupees Three Lakh Eight Thousand Five Hundred and Fifty Only) towards settlement charges which were approved by the panel of the Whole Time Members, SEBI on October 10, 2017.
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Source: SecMarx — sebi:EAD-2/DSR/RG/858/2017. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.