sebi:PM/AB/15/2018-19
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Facts / Headnote
Pending adjudication proceedings disposed of in terms of Regulation 23(1) of SEBI (Settlement Proceedings) Regulations, 2018 upon settlement
Provisions invoked
- s. 15
- s. 19
Regulations
- Reg. 25
- Reg. 29
- Reg. 23(1)
- Reg. 8(1)
- Reg. 10(7)
Holding
The pending adjudication proceedings initiated against the Noticees on December 9, 2015 are disposed of in terms of Regulation 23(1) of the SEBI (Settlement Proceedings) Regulations, 2018 upon acceptance of settlement terms and receipt of the settlement amount.
Full text
Settlement Order in the matter of Govind Rubber Ltd. Page 1 of 4 BEFORE THE ADJUDICATING OFFICER SECURITIES AND EXCHANGE BOARD OF INDIA SETTLEMENT ORDER NO. PM/AB/15/2018-19
Settlement Order in the matter of Govind Rubber Ltd. Page 2 of 4 Acquisition of Shares and Takeovers) Regulations, 2011 (hereinafter referred to as 'SAST Regulations, 2011').
Settlement Order in the matter of Govind Rubber Ltd. Page 3 of 4 6. The settlement terms as proposed by the Noticee was considered by the Internal Committee and placed before the High Powered Advisory Committee (hereinafter referred to as ‘HPAC’) on December 19, 2018. After considering the facts and circumstances of the case, the HPAC recommended that the case may be settled by the Noticee on payment of Rs 15,91,136/-, which was subsequently approved by the panel of Whole Time Members of SEBI.
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Source: SecMarx — sebi:PM/AB/15/2018-19. 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.