sebi:IVD-ID8/WOL/AO/DRK/ASG/EAD-3/05/2009
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Facts / Headnote
settled - adjudication proceedings disposed of by consent order
Holding
This consent order disposes of the pending adjudication proceedings against the Noticee under the SEBI Act, 1992 on payment of Rs.50,000 and a one-year voluntary debarment, without admission or denial of guilt.
Full text
- 2 - 3. Pending adjudication proceedings, the Noticee made an application dated October 10, 2008 (Consent application Regn. No. 1003 of 2008) and an undertaking in the format prescribed by SEBI for settlement in the matter in terms of SEBI Circular No. EFD/Cir.-1/2007 dated April 20, 2007. Pursuant to the said application, as requested by the Noticee a meeting was granted to him before the Internal Committee on Consent on December 05, 2008 and the consent terms were settled at a consolidated amount of Rs.50,000/- (Rupees Fifty Thousand only) towards settlement
- 3 - proceedings are subsequently discovered to be untrue. b. The Noticee has breached any of the clauses / conditions of undertakings / waivers filed during the current consent proceedings.
charges and a voluntary debarment of one year from the securities market, whether directly or indirectly, of the Noticee. 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, 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.
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Source: SecMarx — sebi:IVD-ID8/WOL/AO/DRK/ASG/EAD-3/05/2009. 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.