sebi:ID5/EGFSL/AO/SBM-AKS/EAD-3/CO-01/2015
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Facts / Headnote
Settlement order disposing of the pending adjudication proceedings against the noticee in terms of Regulation 15(1) of SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014.
Regulations
- Reg. 17
- Reg. 15
- Reg. 24
Parties
- Emkay Global Financial Services Ltd.
Holding
The Adjudicating Officer approved the settlement of the pending adjudication proceedings against Emkay Global Financial Services Ltd. on payment of Rs. 11,00,800/-, disposing of the proceedings without prejudice to SEBI's right to take enforcement action if representations were untrue or undertakings breached.
Full text
Page 2 of 3 3. Pending adjudication proceedings, the noticee submitted a consent application dated 19.12.2013 and an undertaking in the format prescribed by SEBI for settlement in the matter in terms of SEBI Circular No. EFD/ED/Cir-1/2007 dated 20.04.2007 further amended vide Circular No. CIR/EFD/1/2012 dated May 25, 2012. The aforesaid Circulars were rescinded by SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014 (hereinafter referred to as 'Settlement Regulations'). As per Regulation 24 (2) of Settlement Regulations, applications filed under aforesaid Circulars and pending with SEBI shall be deemed to have been filed in accordance with Settlement Regulations and shall be dealt in accordance with the provisions of Settlement Regulations.
Page 3 of 3 noticee to the findings of fact or conclusions of law, the noticee has remitted a sum of ` 11,00,800/- (Rupees Eleven Lakh Eight Hundred Only) favoring SEBI vide Demand Draft No. 457277 dated 12.05.2015 drawn on HDFC Bank Ltd. towards the terms of settlement in the matter.
4. Consequent to the transfer of Shri D Ravikumar, the Competent Authority has appointed the undersigned as Adjudicating Officer on 05.06.2015 to dispose of the current Settlement Proceedings.
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Source: SecMarx — sebi:ID5/EGFSL/AO/SBM-AKS/EAD-3/CO-01/2015. 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.