sebi:SO/2024-25/PSD/65
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Facts / Headnote
settled
Provisions invoked
- s. 19
- s. 15J
Regulations
- Reg. 16
- Reg. 25
- Reg. 28
- Reg. 23
Holding
The specified proceedings for which the Notice of Summary Settlement was issued are hereby settled in respect of the Applicant, and SEBI shall not initiate any enforcement action against the Applicant for the said violations.
Full text
2 3. In terms of Regulation 16 of the SEBI (Settlement Proceedings) Regulations, 2018 (hereinafter referred to as “Settlement Regulations”), SEBI issued a ‘Notice of Summary Settlement’ dated January 22, 2025 (hereinafter referred to as the “Notice”) to the Applicant intimating him of the relevant provisions of the Takeover Regulations, as mentioned in paragraph 2 above and that in terms of which, if he so desired, the enforcement proceedings to be initiated for the same may be settled and disposed of upon his filing an application under the Settlement Regulations along with remittance of the settlement amount of ₹3,34,687/- (Rupees three lakhs thirty four thousand six hundred eighty seven only) to be paid within 30 calendar days from the date of receipt of the Notice in terms of Chapter VII of the Settlement Regulations.
3 (b) the Applicant has breached any of the clauses/ conditions of undertakings/ waivers filed during the present settlement proceedings; and (c) there is a discrepancy while arriving at the settlement terms.
4. In response to the same, the Applicant filed an application proposing to settle the enforcement proceedings that may be initiated against him for the violation of the provisions of the Takeover Regulations, as mentioned in paragraph 2 above, through a settlement order and remitted the settlement amount of ₹3,34,687/- (Rupees three lakhs thirty four thousand six hundred eighty seven only) on February 10, 2025. SEBI has confirmed credit of the said amount.
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Source: SecMarx — sebi:SO/2024-25/PSD/65. 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.