sebi:PM/RR/01/2017
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Facts / Headnote
Pending adjudication proceedings disposed of in terms of Regulation 15(1) upon settlement
Regulations
- Reg. 17
- Reg. 15(1)
Parties
- Iris Mediaworks Limited (Formerly known as Channel Guide (India) Limited)
Holding
The pending adjudication proceedings initiated against the Noticee vide SCN dated February 26, 2016 is disposed of in terms of Regulation 15(1) of SEBI Settlement Regulations, 2014 upon acceptance of settlement terms and receipt of Rs 6,37,500.
Full text
Settlement Order in respect of Iris Mediaworks Limited (Formerly known as Channel Guide (India) Limited) Page 2 of 3 4. While the adjudication proceedings were in progress, the Noticee submitted an Application for settlement of the proceedings, in terms of SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014 (hereinafter referred to as ‘Settlement Regulations’).
Settlement Order in respect of Iris Mediaworks Limited (Formerly known as Channel Guide (India) Limited) Page 3 of 3 proceedings are subsequently discovered to be untrue. b. the Noticee has breached any of the clauses / conditions of undertakings / waivers filed during the current settlement proceedings.
5. Thereafter, the Noticee had a meeting with the Internal Committee (IC) of SEBI on March 2, 2017. 6. The settlement terms as proposed by the Noticee were considered by the Internal Committee and placed before the High Powered Advisory Committee (hereinafter referred to as ‘HPAC’) on March 27, 2017. 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 6,37,500/-, which were subsequently approved by the panel of Whole Time Members of SEBI on May 2, 2017.
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Source: SecMarx — sebi:PM/RR/01/2017. 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.