sebi:SO/BS/CE/2022-23/6776
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Facts / Headnote
Adjudication proceedings settled qua the applicant on payment of settlement amount
Provisions invoked
- s. 19
- s. 15J
Regulations
- Reg. 25
- Reg. 28
- Reg. 23
Holding
The pending adjudication proceedings for the alleged defaults are settled qua the applicant upon payment of Rs.10,87,500, disposing of the proceedings initiated by SEBI.
Full text
Page 2 of 3 4. Pursuant to the receipt of the settlement application, the authorized representatives of the applicants had a meeting with the Internal Committee of SEBI on May 19, 2022 and deliberated on the terms of settlement. Thereafter, the applicants proposed the Revised Settlement Terms (RST) to settle the proceedings initiated against them.
Page 3 of 3 b) the applicants have 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.
5. The High Powered Advisory Committee (“HPAC”) in its meeting held on June 09, 2022, considered the settlement terms proposed by the applicant and recommended the case for settlement upon payment of the settlement amount Rs.10,87,500 (Rupees Ten Lakh eighty-seven thousand five hundred only).
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Source: SecMarx — sebi:SO/BS/CE/2022-23/6776. 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.