sebi:SO/AN/RG/2024-25/7663
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Facts / Headnote
Adjudication proceedings disposed of by settlement
Provisions invoked
- s. 15H
- s. 15J
Regulations
- Reg. 10
- Reg. 25
- Reg. 28
- Reg. 14(3)
- Reg. 23(1)
- Reg. 13(2)(c)
Parties
- Mr. Abhishek Gupta
Holding
In view of receipt of the Rs. 19,50,000 settlement amount, the adjudication proceedings initiated against Mr. Abhishek Gupta vide Show Cause Notice No. SEBI/EAD-5/AN/RG/563/4/2024 dated January 04, 2024 are disposed of in terms of Section 15JB of the SEBI Act, 1992 read with Regulation 23(1) of the SEBI (Settlement Proceedings) Regulations, 2018.
Full text
Settlement Order in the matter of Edelweiss Asset Management Limited Page 2 of 4 3. A Show Cause Notice No. SEBI/EAD-5/AN/RG/563/4/2024 dated January 04, 2024 (“SCN”) was issued to the Noticee in terms of provisions of Rule 4 of the Adjudication Rules, inter alia calling upon to show cause why an inquiry should not be held and penalty not be imposed, under Section 15HB of SEBI Act, for the aforesaid alleged violations by the Noticee. Briefly stated, the following was inter alia observed and alleged, in respect of the Noticee:
Settlement Order in the matter of Edelweiss Asset Management Limited Page 3 of 4 from the date of the IC Meeting in terms of Regulation 13(2)(c) of SEBI (Settlement Proceedings) Regulations, 2018.
Settlement Order in the matter of Edelweiss Asset Management Limited Page 4 of 4 11. In view of the receipt of settlement amount by SEBI, the instant Adjudication Proceedings initiated against the Noticee viz., Mr. Abhishek Gupta vide Show Cause Notice No. SEBI/EAD-5/AN/RG/563/4/2024 dated January 04, 2024, are hereby disposed of in terms of Section 15JB of the SEBI Act, 1992 read with Regulation 23(1) of SEBI (Settlement Proceedings) Regulations, 2018.
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Source: SecMarx — sebi:SO/AN/RG/2024-25/7663. 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.