sebi:IVD-ID8/WOL/AO/DRK/ASG/EAD-3/CO-06/2009
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Facts / Headnote
Adjudication proceedings disposed of by consent settlement
Parties
- B. R. Jalan Securities Pvt. Ltd.
Holding
The pending adjudication proceedings against B. R. Jalan Securities Pvt. Ltd. under the SEBI Act, 1992 are disposed of by consent on payment of Rs.2,50,000 as settlement charges without admission or denial of guilt.
Full text
Page - 2 - of 3 - 2 - Rule 3 of Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995.
Page - 3 - of 3 - 3 - a. Any representations made by the Noticee in the consent 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.
3. Pending adjudication proceedings, the Noticee made an application dated July 10, 2008 (Consent application Regn. No. 839 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, the Noticee submitted its revised consent terms vide its letter dated October 23, 2008, wherein it proposed an amount of Rs.2,50,000/- (Rupees Two Lakh Fifty Thousand only) towards settlement charges. The consent terms were placed before the High Powered Advisory Committee (hereinafter referred to as “HPAC”) on December 01, 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/CO-06/2009. 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.