sebi:IVD-ID8/ITD/AO/DRK/ASG/EAD-3/CO-16/2009

SEBI · SEBI · 2009-03-09 · Adjudicating Officer, SEBI

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Facts / Headnote

Adjudication proceedings disposed of via consent settlement

Parties

• Dipal Praful Rokadia

Holding

This consent order disposes of the adjudication proceedings pending against Dipal Praful Rokadia under the SEBI Act, 1992 upon payment of Rs. 3,00,000 towards settlement charges without admission or denial of guilt.

Full text

- 2 - Pursuant to the said application, as requested by the Noticee a meeting was granted to him before the Internal Committee on Consent on December 24, 2008 and the consent terms were settled at an amount of Rs.3,00,000/- (Rupees Three Lakhs only) towards settlement charges. The consent terms were placed before the High Powered Advisory Committee (hereinafter referred to as “HPAC”) on January 20, 2009 and the HPAC considered the facts and circumstances of the case, 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 - 6. This consent order is passed on the 22nd day of April, 2009 and shall come into force with immediate effect. 7. In terms of Rule 6 of Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995, copies of this order are sent to Dipal Praful Rokadia (having address at 74, Rajat Apartments, Mount Pleasant Road, Mumbai- 400006) and also to the Securities and Exchange Board of India, Mumbai.

4. In terms of the 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. 3,00,000/- (Rupees Three Lakhs only) favoring SEBI vide Pay Order No. 410712 dated March 09, 2009 drawn on The Saraswat Co-operative Bank Ltd., payable at Mumbai, towards the terms of consent in the matter.

Source: SecMarx — sebi:IVD-ID8/ITD/AO/DRK/ASG/EAD-3/CO-16/2009. 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.