sebi:SO//PSD/2024-25/7288
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Facts / Headnote
Settled - SEBI shall not initiate any enforcement action for the stated violations, subject to Regulation 28 and Regulation 31 of the Settlement Regulations
Provisions invoked
- s. 19
- s. 15J
Regulations
- Reg. 25
- Reg. 28
- Reg. 5(1)
- Reg. 21(4)
- Reg. 31
- Reg. 23
- Reg. 3(2)
- Reg. 48
- Reg. 4(1)(e)
- Reg. 31(4)
- Reg. 21(1)(c)
Holding
Any enforcement proceedings that may be initiated against the 18 Applicants for the Wallace-related shareholding, accounting and open-offer violations are settled in terms of Regulation 23, and SEBI shall not initiate enforcement action for those violations.
Full text
1 SO//PSD/2024-25/7288 SECURITIES AND EXCHANGE BOARD OF INDIA SETTLEMENT ORDER IN RESPECT OF Sr. No. S.A. No Applicant PAN 1. 7288/2023 BOMBAY BURMAH TRADING CORPORATION LIMITED AAACT4309C 2. 7301/2023 NUSLI NEVILLE WADIA AAAPW0990M 3. 7302/2023 NESS NUSLI WADIA AAAPW0814G 4. 7303/2023 JEHANGIR NUSLI WADIA AAAPW0989N 5. 7304/2023 MAUREEN NUSLI WADIA AAAPW4163A 6. 7305/2023 NOWROSJEE WADIA & SONS LIMITED AAACN1836A 7. 7306/2023 HEERA HOLDINGS & LEASINGS PVT. LTD. AAACH7902B 8. 7307/2023 MACROFIL INVESTMENTS LIMITED AAACM9372Q 9. 7308/2023 NAPEROL INVESTMENTS LIMITED AAACN2636A 10. 7309/2023 NIDHIVAN INVESTMENT & TRADING COMPANY PRIVATE LIMITED AAACN7442A 11. 7310/2023 NESSVILLE TRADING PRIVATE LIMITED AAACN9207H 12. 7311/2023 VARNILAM INVESTMENTS AND TRADING COMPANY LIMITED AAACV1963E 13. 7312/2023 NATIONAL PEROXIDE LIMITED AABCN7072K 14. 7313/2023 GO INVESTMENTS & TRADING PRIVATE LIMITED AACCS2156G 15. 7314/2023 SAHARA INVESTMENTS PRIVATE LIMITED AAECS6355B 16. 7319/2023 N.N. WADIA ADMINISTRATOR OF ESTATE OF LT. E. F. DINSHAW AAEPD8394A 17. 7322/2023 THE BOMBAY DYEING & MANUFACTURING COMPANY LIMITED AAACT2328K 18. 7335/2023 WALLACE BROTHERS TRADING & INDUSTRIAL LTD. AABCW4361N
2 2.2 In its application, the Applicant mentioned that the onboarding and KYC checks with respect to the ODI subscriber i.e. SMFL was completed on January 10, 2024.
3 5. The High Powered Advisory Committee (hereinafter referred to as “HPAC”) in its meeting held on November 18, 2024, considered the revised settlement terms proposed by the Applicant and recommended that the matter may be settled upon payment of ₹36,00,000/- (Rupees Thirty Lakhs Only) by the Applicant as settlement amount towards the settlement terms.
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Source: SecMarx — sebi:SO//PSD/2024-25/7288. 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.