sebi:RA/CB/337/2018
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Facts / Headnote
Pending adjudication proceedings disposed of in terms of Regulation 15(1) of the Settlement Regulations
Regulations
- Reg. 17
- Reg. 15(1)
Parties
- Unity Infraprojects Ltd.
Holding
Pending adjudication proceedings initiated against Unity Infraprojects Ltd. under SCN dated September 06, 2017 are disposed of in terms of Regulation 15(1) of the Settlement Regulations upon acceptance of settlement terms and receipt of Rs 7,90,182.
Full text
Settlement Order in the matter of Unity Infraprojects Ltd. Page 2 of 3 6. The settlement terms as proposed by the Noticee / Applicant were considered by the IC and it placed the same before the High Powered Advisory Committee (hereinafter be referred to as, the “HPAC”) on February 26, 2018. After considering the facts / circumstances of the case, material brought before it and taking note that the Applicant is agreeable to pay the settlement amount calculated as per Settlement Regulations, the HPAC recommended that the case may be settled on payment of `7,90,182/- (Rupees Seven Lakh Ninety Thousand One Hundred and Eighty Two only) towards settlement terms as proposed by the Applicant.
Settlement Order in the matter of Unity Infraprojects Ltd. Page 3 of 3 11. In terms of Regulation 17 of Settlement Regulations, a copy of this order is being sent to the Applicant / Noticee and for publication on the website of SEBI.
7. The recommendation of the HPAC was approved by a Panel of the Whole Time Members of the SEBI on March 14, 2018 and the same was communicated to the Applicant vide an e-mail dated March 14, 2018. The Applicant, vide letter dated March 26, 2018, had submitted a Banker’s Cheque bearing No. 828013 dated March 26, 2018, drawn on Bank of India for `7,90,182/- (Rupees Seven Lakh Ninety Thousand One Hundred and Eighty Two only) towards the settlement of actions in the case.
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Source: SecMarx — sebi:RA/CB/337/2018. 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.