sebi:SO/EFD-2/CSD/248/NOV/2018
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Facts / Headnote
Disposed of by settlement - proposed adjudication proceedings disposed of qua applicant
Regulations
- Reg. 17
- Reg. 15
Holding
This order disposes of the proposed adjudication proceedings against the applicant by way of settlement, and SEBI shall not initiate any enforcement action against the applicant for the said default.
Full text
Settlement order in the matter of M/s Parnax Lab Limited Page 2 of 2 discussed in paragraph 1 above, are settled qua the applicant as per the above terms, by way of this order and SEBI shall not initiate any enforcement action against the applicant for the said default.
6. In view of the above, in terms of Regulations 15 and 19 of the Settlement Regulations, it is hereby ordered that: i. this order disposes of the said proposed adjudication proceedings in respect of the applicant as mentioned above and; ii. passing of this order is without prejudice to the right of SEBI to take enforcement actions including commencing proceedings against the applicant, if SEBI finds that: a. any representation made by the applicant in the present settlement proceedings is subsequently discovered to be untrue; b. the applicant has breached any of the clauses/ conditions of undertakings/ waivers filed during the present settlement proceedings.
7. This settlement order is passed on this 9th day of November, 2018 and shall come into force with immediate effect. 8. In terms of Regulation 17 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.
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Source: SecMarx — sebi:SO/EFD-2/CSD/248/NOV/2018. 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.