sebi:SO/AB/EFD2/2023-24/7016
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Facts / Headnote
settled qua the Applicant
Provisions invoked
- s. 19
- s. 15J
Regulations
- Reg. 25
- Reg. 28
- Reg. 23
Holding
The proceedings that may be initiated for the violations mentioned at paragraph 1 are settled qua the Applicant upon payment of the settlement amount, and SEBI shall not initiate any enforcement action against the Applicant for the said violation.
Full text
2 the Applicant proposed revised settlement terms dated February 09, 2023 to settle any enforcement proceedings that may be initiated against it.
3 7. In terms of Regulation 25 of the Settlement Regulations, a copy of this Order shall be sent to the Applicant and shall also be published on the website of SEBI.
4. The application was placed before the High Powered Advisory Committee (“HPAC”) in its meeting held on February 22, 2023, which considered the facts of the case and the revised settlement terms proposed by the Applicant and recommended the case for settlement upon payment of ₹91,22,894/- (Rupees Ninety one lakh twenty two thousand eight ninety four only). The recommendation of the HPAC was accepted by the Panel of Whole Time Members of SEBI on March 10, 2023 and the Notice of Demand was issued to the Applicant vide email dated March 16, 2023. The Applicant informed about the remittance of the aforesaid settlement amount on April 05, 2023 and SEBI has confirmed credit of the same.
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Source: SecMarx — sebi:SO/AB/EFD2/2023-24/7016. 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.