sebi:Order/SRP/AE/2018-19/62
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Facts / Headnote
Adjudication proceedings disposed of via settlement on payment of settlement amount
Provisions invoked
- s. 15A
Regulations
- Reg. 17
- Reg. 25
- Reg. 23(1)
- Reg. 15(1)
- Reg. 30(3)
- Reg. 30(1)
Parties
- Shirish M. Anjaria
Holding
The adjudication proceedings initiated against Shri Shirish M. Anjaria vide Show Cause Notice No. EAD-5/ADJ/SVKM/AA/OW/5630/1/2017 dated March 15, 2017 are disposed of upon payment of Rs. 2,14,433 under the summary settlement procedure.
Full text
Settlement Order in respect of Shirish M. Anjaria in the matter of Dynacons Technologies Ltd Page 1 of 4 BEFORE THE ADJUDICATING OFFICER SECURITIES AND EXCHANGE BOARD OF INDIA, MUMBAI SETTLEMENT ORDER NO. Order/SRP/AE/2018-19/62 SETTLEMENT ORDER On the Application No. 3604/2018
Settlement Order in respect of Shirish M. Anjaria in the matter of Dynacons Technologies Ltd Page 2 of 4 representing 26% of the paid up capital of DTL at a price of Rs. 1.30/- per share. Further, it was stated that while examining the Letter of Offer filed pursuant to the afore-mentioned public announcement, it was observed that the Applicant, alongwith Shri Dharmesh S. Anjaria, Smt. Nilam S. Anjaria, Smt. Jigna D. Anjaria, Shirish M. Anjaria HUF, Shri Parag J Dalal, Smt. Devangi Parag Dalal, Smt. Hasumati Dalal, Parag J Dalal HUF, Dynacons Systems and Solutions Limited, and Trigem Infosolutions Limited were the promoter and promoter group entities of DTL during the relevant period, and that they had allegedly not complied with the provisions of Regulations 30(1) and 30(2) read with Regulation 30(3) of SAST Regulations, 2011 within the due date for the financial years ended March 31, 2013 and March 31, 2014. The details of the alleged non-compliances by the promoter and promoter group entities in the tabular form is given below - Sr. No. Provision of SAST Regulations, 2011 Due date of compliance Actual date of compliance Delay (in no. of days) 1 30(1) and 30 (2) read with 30 (3) 09.04.2013 10.02.2014 307 2 30(1) and 30 (2) read with 30 (3) 10.04.2014 29.04.2014 19
Settlement Order in respect of Shirish M. Anjaria in the matter of Dynacons Technologies Ltd Page 3 of 4 2018 along with application for condonation of delay and other documents. The terms of settlement proposed by the Applicant and other entities forming part of promoter and promoter group was to settle the aforementioned adjudication proceedings initiated against them on payment of a sum of Rs. 2,00,000/- (Rupees Two Lakh Only) to be paid jointly and severally. It is noted that the Applicant vide undertaking dated February 05, 2018 submitted along with the settlement application has inter alia stated that “We neither admit nor deny the
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Source: SecMarx — sebi:Order/SRP/AE/2018-19/62. 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.