sebi:IVD-ID5/PPD/AO/DRK/SS/EAD-3/CO-11/2009
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Facts / Headnote
Adjudication proceedings pending against the Noticee under SEBI Act, 1992 disposed of by consent
Holding
The pending adjudication proceedings against the Noticee under the SEBI Act, 1992 are disposed of by this consent order on payment of Rs.1,50,000 without admission or denial of guilt.
Full text
- 2 - 3. Pending adjudication proceedings, the Noticee made an application dated August 28, 2008 (Consent application Regn. No. 961 of 2008) 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 April 20, 2007. Pursuant to the said application, the Noticee submitted his revised consent terms vide his letter dated November 14, 2008, wherein he proposed an amount of Rs.1,50,000/- (Rupees One Lakh and Fifty Thousand only) towards settlement charges. The consent terms were placed before the High Powered Advisory Committee (hereinafter referred to as “HPAC”) on December 24, 2008 and the HPAC considered the facts and circumstances of the case, the proposed settlement terms offered by the Noticee and the other material brought before the HPAC. HPAC after deliberation recommended the case for settlement on the consent terms proposed by the Noticee.
- 3 - b. the Noticee has breached any of the clauses / conditions of undertakings / waivers filed during the current consent proceedings.
4. In terms of the revised proposal of the Noticee for the sole purpose of settling the matter on hand and without admission or denial of guilt on the part of the Noticee to the findings of fact or conclusions of law, the Noticee has remitted a sum of Rs.1,50,000/- (Rupees One Lakh and Fifty Thousand only) favoring Securities and Exchange Board of India vide Bankers cheque No. 149908 dated 09/02/2009 drawn on ICICI Bank Limited, payable at Mumbai, towards the terms of consent in the matter.
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Source: SecMarx — sebi:IVD-ID5/PPD/AO/DRK/SS/EAD-3/CO-11/2009. 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.