sebi:EAD-5/BS/40/2017-18
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Adjudication proceedings initiated against the Applicant disposed of pursuant to settlement
Regulations
- Reg. 17
- Reg. 15(1)
Parties
- Ajay Kumar Gupta & Sons HUF
Holding
The adjudication proceedings initiated against Ajay Kumar Gupta & Sons HUF by Show Cause Notice no. EAD-5/ADJ/SVKM/AA/OW/29526/1/2016 dated October 26, 2016 are disposed of on payment of Rs.7,73,500/- as settlement charges.
Full text
Page 2 of 3 settle, through settlement order, the aforementioned adjudication proceedings for the alleged violations. 4. The settlement terms of Rs.7,73,500/- (Rupees Seven Lakh Seventy Three Thousand Five Hundred only), as proposed by the Applicant vide letter dated December 09, 2017, was placed before the High Powered Advisory Committee (hereinafter referred to as ‘HPAC’) on December 20, 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.7,73,500/- (Rupees Seven Lakh Seventy Three Thousand Five Hundred 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 Applicant vide email dated February 05, 2018.
Page 3 of 3 8. This order is without prejudice to the right of SEBI to take enforcement actions including restoring or initiating the proceedings in respect to which this settlement
5. Accordingly, the Applicant vide letter dated February 08, 2018 has remitted a sum of Rs.7,73,500/- (Rupees Seven Lakh Seventy Three Thousand Five Hundred only) towards settlement charges through Demand Draft no.003084 dated February 08, 2018 drawn on HDFC Bank.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:EAD-5/BS/40/2017-18. 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.