sebi:EAD-5/BS/10/2017-18
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Facts / Headnote
Adjudication proceedings disposed of via settlement
Regulations
- Reg. 17
- Reg. 15(1)
Parties
- Foseco India Ltd
- Foseco (UK) Limited
- Vesuvius Holding Limited (formerly known as Cookson Group PLC)
- Foseco Overseas Limited
Holding
This settlement order disposes of the adjudication proceedings initiated against the Applicants vide Show Cause Notices dated February 20, 2017 upon payment of Rs. 6,82,795 towards settlement charges.
Full text
Page 2 of 3 3. While the adjudication proceedings pursuant to the said SCN were in progress, the Applicants, had submitted an application dated May 25, 2017 with SEBI in terms of SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014 (hereinafter referred to as the “Settlement Regulations, 2014”) proposing to settle, through settlement order, the aforementioned adjudication proceedings for the alleged violations.
Page 3 of 3 adjudication proceedings initiated against the Applicants namely Foseco India Ltd, Foseco (UK) Limited, Vesuvius Holding Limited (formerly known as Cookson Group PLC), and Foseco Overseas Limited vide Show Cause notice nos. EAD-5/ADJ/SVKM/AA/OW/3880/1/2017, EAD- 5/ADJ/SVKM/AA/OW/3881/1/2017, EAD-5/ADJ/SVKM/AA/OW/3882/1/2017, and EAD-5/ADJ/SVKM/AA/OW/3903/1/2017 dated February 20, 2017.
4. The settlement terms of Rs. 6,82,000/- (Rupees Six Lakh Eighty Two Thousand only), as proposed by the Applicant vide letter dated July 27, 2017, was placed before the High Powered Advisory Committee (hereinafter referred to as ‘HPAC’) on August 09, 2017. The HPAC, after considering the facts and circumstances of the matter and the settlement terms proposed by the Applicant, recommended that the aforesaid adjudication proceedings may be settled on payment of Rs. 6,82,795/- (Rupees Six Lakh Eighty Two Thousand Seven Hundred Ninety Five only) towards settlement charges. The Panel of Whole Time Members of SEBI approved the said recommendations of the HPAC and the same was communicated to the Applicants vide email dated October 11, 2017.
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Source: SecMarx — sebi:EAD-5/BS/10/2017-18. 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.