sebi:SO/AN/EFD2/2024-25/7385
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Facts / Headnote
Settled
Provisions invoked
- s. 19
- s. 15J
Regulations
- Reg. 25
- Reg. 28
- Reg. 23
Holding
Any proceedings that may be initiated for the violations mentioned at paragraph 1 are settled in respect of the Applicant upon payment of Rs. 6,20,000, and SEBI shall not initiate any enforcement action against the Applicant for the said violations subject to the stated conditions.
Full text
Page 2 of 3 Company. The Applicant is stated to have utilized the funds generated from the sale of the shares for redemption of preference shares issued by it and the payment of dividend.
Page 3 of 3 ii. passing of this Order is without prejudice to the right of SEBI under Regulation 28 of the Settlement Regulations to initiate appropriate action against the Applicant, if SEBI finds that: (a) any representation made by the Applicant in the present settlement proceedings is subsequently found to be untrue; (b) the Applicant has breached any of the clauses/ conditions of undertakings/ waivers filed during the present settlement proceedings; and (c) there was a discrepancy while arriving at the settlement terms.
3. In view of the aforesaid facts, the Applicant filed the present application for the purpose of settling the proceedings that may be initiated against it for the aforesaid violations.
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Source: SecMarx — sebi:SO/AN/EFD2/2024-25/7385. 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.