sebi:EAD-2/SS/SK/2018-19/1559
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Facts / Headnote
settled and disposed of
Provisions invoked
- s. 21
- s. 23
- s. 23E
Regulations
- Reg. 17
- Reg. 15(1)
- Reg. 3(1)
- Reg. 38
Parties
- Polson Limited
Holding
The adjudication proceedings initiated against Polson Limited vide SCN dated May 15, 2018 are settled and disposed of on payment of Rs. 6,80,000 towards settlement charges.
Full text
_________________________________________________________________________________________ Settlement Order in respect of Polson Limited Page 2 of 3 (File No.: EAD-2/SS/SK/42/100/2018-19)
_________________________________________________________________________________________ Settlement Order in respect of Polson Limited Page 3 of 3 (File No.: EAD-2/SS/SK/42/100/2018-19)
by the applicant. Vide a communication-order dated May 11, 2018, it has been informed that the competent authority has appointed the undersigned as Adjudicating Officer under Section 23-I(1) and(2) of SCRA and Rule 3 of Securities Contracts (Regulation) (Procedure for Holding Inquiry and imposing penalties by Adjudicating Officer) Rules, 2005 (hereinafter referred to as ‘Adjudication Rules’) to inquire into and adjudge under Section 23E of the SCRA the alleged violation of provisions of Section 21 of the SCRA read with Regulation 38 of SEBI (LODR) Regulations, 2015. Accordingly, in terms of Rule 4(1) of the Adjudication Rules read with Section 23-I (1) and (2) of SCRA, the notice to show cause no. EAD/SKS-SS/14352/2018 dated May 15, 2018 (hereinafter referred to as ‘the SCN’) was issued to the applicant, calling upon it to show cause as to why an inquiry should not be held against it in terms of Rule 4 of the Adjudication Rules and penalty be not imposed under Section 23E of the SCRA as charged in this case.
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Source: SecMarx — sebi:EAD-2/SS/SK/2018-19/1559. 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.