sebi:SO/AB/EFD2/2022-23/6919

SEBI · SEBI · 2022-09-08 · Whole Time Member (Ananth Narayan G. and Ashwani Bhatia)

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Facts / Headnote

Settlement of proceedings qua the applicant upon payment of Rs.3,00,000/-

Provisions invoked

• s. 19
• s. 15J

Regulations

• Reg. 25
• Reg. 28
• Reg. 23

Parties

• Radheshyam Laluram Kabra

Holding

SEBI settled the proceedings that may have been initiated against Radheshyam Laluram Kabra for the alleged violations in the matter of Mercury Metals Limited, upon payment of Rs.3,00,000/-, and agreed not to initiate enforcement action for the said violations.

Full text

Settlement Order in respect of Radheshyam Laluram Kabra in the matter of Mercury Metals Limited The Internal Committee deliberated on the aspect of the delayed disclosures and suggested the terms of the settlement. Thereafter, the applicant vide e–mail dated September 08, 2022, proposed revised settlement terms to settle the proceedings that may be initiated against him.

Settlement Order in respect of Radheshyam Laluram Kabra in the matter of Mercury Metals Limited (c) there was a discrepancy while arriving at the settlement terms.

4. The High Powered Advisory Committee (“HPAC”) in its meeting held on October 20, 2022, considered the revised settlement terms proposed by the applicant and recommended the case for settlement upon payment of Rs.3,00,000/- (Rupees Three Lakhs only). Thereafter, the Notice of Demand was issued to the applicant on November 14, 2022. The applicant informed about the remittance of the aforesaid settlement amount on November 25, 2022 and SEBI has confirmed credit of the same.

Source: SecMarx — sebi:SO/AB/EFD2/2022-23/6919. 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.