sebi:ORDER/SRP/HKS/2019-20/2899
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Facts / Headnote
Settlement Order disposing of adjudication proceedings initiated against the Applicant pursuant to settlement application
Provisions invoked
- s. 15
Regulations
- Reg. 25
- Reg. 28
- Reg. 29
- Reg. 34
- Reg. 23
Parties
- Sarwan Kumar Saraf
Holding
The Settlement Order disposes of the adjudication proceedings initiated against the Applicant, Sarwankumar Saraf, vide SCN No. EAD-5/ADJ/SVKM/DS/OW/20388/1/2016 dated July 19, 2016, upon payment of the settlement amount of Rs.19,68,457/- jointly and/or severally by all the 5-PACs.
Full text
Settlement Order in respect of Sarwan Kumar Saraf Page 2 of 4 the Applicant in terms of Rule 4 of the Adjudication Rules read with Section 15-I of the SEBI Act.
Settlement Order in respect of Sarwan Kumar Saraf Page 3 of 4 6. Pursuant to the application, the authorized representatives of the Applicant had a meeting with the Internal Committee of SEBI on January 28, 2019 wherein the settlement terms were deliberated. Thereafter, the Applicant, vide letter dated February 01, 2019 proposed the revised settlement terms to settle the defaults mentioned above.
Settlement Order in respect of Sarwan Kumar Saraf Page 4 of 4 10. This Order is without prejudice to the right of SEBI to take enforcement actions including restoring or initiating the proceedings in respect to which this settlement
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Source: SecMarx — sebi:ORDER/SRP/HKS/2019-20/2899. 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.