sebi:SM/EAD-12/30/2018-19

SEBI · SEBI · 2018-03-10 · Adjudicating Officer, SEBI

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Facts / Headnote

Settlement order disposing of the adjudication proceeding initiated against the applicant vide SCN dated April 15, 2015, on payment of Rs. 10,15,292/-

Regulations

• Reg. 17
• Reg. 15(1)

Parties

• M/s Meenakshi Enterprises Limited

Holding

The adjudication proceeding initiated against M/s Meenakshi Enterprises Limited vide SCN dated April 15, 2015 is disposed of pursuant to settlement on payment of Rs. 10,15,292/- towards settlement charges.

Full text

Settlement Order in respect of Meenakshi Enterprises Ltd. Page 2 of 3 5. Pursuant to the above mentioned Settlement Application made by the applicant, the authorized representative had a meeting with the Internal Committee (hereinafter referred to as “IC”) of SEBI on March 09, 2018. During the aforesaid meeting, the settlement terms of Rs. 10,15,292/- (Rupees Ten Lakh Fifteen Thousand Two Hundred Ninety Two Only) calculated as per the Settlement Regulations were communicated to the applicant. The applicant vide e-mail dated March 10, 2018 proposed payment of Rs. 10,15,292/- (Rupees Ten Lakh Fifteen Thousand Two Hundred Ninety Two Only).

Settlement Order in respect of Meenakshi Enterprises Ltd. Page 3 of 3 proceedings is subsequently found to be untrue; or b. the applicant breaches any of the clauses/conditions of undertakings/waivers filed during the current settlement proceedings.

6. The settlement terms were placed before the High Powered Advisory Committee (hereinafter referred to as 'HPAC') on April 09, 2018. The HPAC, after considering the facts and circumstances of the case, settlement terms offered by the applicant and also the materials made available before it by SEBI, recommended that the aforesaid adjudication proceedings initiated against the applicant may be settled on payment of Rs. 10,15,292/- (Rupees Ten Lakh Fifteen Thousand Two Hundred Ninety Two Only) towards the settlement terms. The Panel of Whole Time Members of SEBI approved the said recommendation of HPAC on May 02, 2018 and the same was communicated to the applicant vide e-mail dated May 03, 2018.

Source: SecMarx — sebi:SM/EAD-12/30/2018-19. 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.