sebi:MC/DPS/2019-20/3312
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Facts / Headnote
Pending adjudication proceedings initiated under SCN dated April 19, 2017 disposed of on payment of settlement amount
Provisions invoked
- s. 15H
- s. 15I
- s. 67(3)
- s. 67
- s. 67(1)
Regulations
- Reg. 17
- Reg. 25
- Reg. 23(1)
- Reg. 15(1)
- Reg. 4(2)
Parties
- M/s Security and Intelligence Services (India) Limited
Holding
Pending adjudication proceedings initiated against M/s Security and Intelligence Services (India) Limited under SCN dated April 19, 2017 are hereby disposed of upon payment of Rs.36,56,250 towards settlement terms.
Full text
BEFORE THE ADJUDICATING OFFICER SECURITIES AND EXCHANGE BOARD OF INDIA SETTLEMENT ORDER NO. MC/DPS/2019-20/3312 SETTLEMENT ORDER On the Application No. 3244 of 2017 Submitted by M/s Security and Intelligence Services (India) Limited
Settlement Order in the matter of M/s Security and Intelligence Services (India) Limited Page 2 of 5 3. A Show Cause Notice Reference No. EAO/RA/JP/8777/2017 dated April 19, 2017 (hereinafter be referred to as, the “SCN”) was issued to the Noticee, wherein it was alleged that Noticee had issued and allotted equity shares to more than 49 persons on nine (9) occasions, during the period from April 1988 till February 2012 (most of them employees of the Company) pursuant to further issue, preferential allotment or stock options.
Settlement Order in the matter of M/s Security and Intelligence Services (India) Limited Page 3 of 5 6. SEBI Circular dated December 31, 2015 inter-alia states:
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Source: SecMarx — sebi:MC/DPS/2019-20/3312. 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.