sebi:EAD-2/DSR/RG/860/2017
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Facts / Headnote
Settlement approved; adjudication proceedings disposed of
Regulations
- Reg. 17
- Reg. 15(1)
Holding
The settlement application was approved on payment of Rs. 22,69,712/- as settlement charges, and the settlement order disposes of the adjudication proceedings initiated against the Noticee vide the SCN dated March 03, 2017.
Full text
Page 2 of 3 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 ` 22,69,712/- (Rupees Twenty Two Lakh Sixty Nine Thousand Seven Hundred and Twelve Only) towards settlement charges which were approved by the panel of the Whole Time Members, SEBI on October 10, 2017.
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.
5. Accordingly, vide letter dated November 03, 2017, the Noticee has remitted a sum of ` 22,69,712/- (Rupees Twenty Two Lakh Sixty Nine Thousand Seven Hundred and Twelve Only) vide demand draft No. 130877 dated November 01, 2017, drawn on Central Bank of India towards the terms of settlement in the matter.
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Source: SecMarx — sebi:EAD-2/DSR/RG/860/2017. 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.