sebi:ORDER/SR/PP/2019-20/124
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Facts / Headnote
Adjudication proceedings disposed off as settled
Provisions invoked
- s. 15H
Parties
- Ponnuraj Gokulraj
Holding
The adjudication proceedings initiated against Ponnuraj Gokulraj vide SCN dated March 30, 2017 in the matter of HBJ Capital were disposed off as settled pursuant to settlement order dated September 24, 2019.
Full text
__________________________________________________________________________________ Adjudication Order in respect of Mr. Ponnuraj Gokulraj in the matter of HBJ Capital Services Pvt. Ltd. . Page 2 of 2
2. Mr. Ponnuraj Gokulraj (hereinafter referred to as Noticee) was one of the director of the Company. A Show Cause Notice No. EAD/NP/AS/OW/7270/1/2017 dated March 30, 2017 (hereinafter referred to as SCN) was issued to the Noticee under rule 4(1) of the SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules 1995 (Adjudication Rules, 1995) requiring the Noticee to show cause as to why an inquiry should not be held against it and penalty be not imposed under section 15HB of The Securities and Exchange Board of India, Act 1992 (the SEBI Act, 1995) for the alleged non-compliance.
3. After my appointment as Adjudicating Officer in the instant matter, a reminder to file reply to the SCN sent to the Noticee vide letter dated September 13, 2019. Noticee, vide his letter dated September 23, 2019 stated that he has already settled through consent application. It is noted from settlement order no.SO/EFD-2/SD/302/SEP/2019 dated September 24, 2019 that the said adjudication proceedings initiated against the Noticee in the instant matter has been settled. Thereafter, Settlement Division has also intimated the details of the settlement order and therefore, the adjudication proceedings initiated against Ponnuraj Gokulraj in the matter of HBJ Capital vide SCN dated March 30, 2017 are disposed off.
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Source: SecMarx — sebi:ORDER/SR/PP/2019-20/124. 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.