sebi:SO/EFD-2/CSD/272/FEB/2019
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Facts / Headnote
Settlement of proceedings for delayed disclosure under Regulation 10(5) of SAST Regulations, 2011, on payment of ₹3,00,000 under summary settlement procedure
Provisions invoked
- s. 15J
Regulations
- Reg. 16
- Reg. 25
- Reg. 34
- Reg. 23
- Reg. 10(5)
Parties
- Mr. Saurabh Nevatia
Holding
SEBI settled the proceedings against Mr. Saurabh Nevatia for delayed disclosure of acquisition of 12.38% shares transferred from his father, on payment of ₹3,00,000 under the summary settlement procedure, without the applicant admitting or denying the findings.
Full text
Settlement Order in respect of Mr. Saurabh Nevatia in the matter of Hind Rectifiers Limited Page 1 of 3 SO/EFD-2/CSD/272/FEB/2019
Settlement Order in respect of Mr. Saurabh Nevatia in the matter of Hind Rectifiers Limited Page 2 of 3 2018, had approved that the settlement applications filed for the minor defaults/defaults involving disclosure matters may be processed as per “Summary Settlement Procedure” for expeditious disposal. It was observed that the captioned case may be considered for summary settlement as per the provisions of Regulation 16 of the SEBI (Settlement Proceedings) Regulations,
Settlement Order in respect of Mr. Saurabh Nevatia in the matter of Hind Rectifiers Limited Page 3 of 3 iii. this order disposes of the proceedings that may be initiated for the default as mentioned above, in respect of the applicant and;
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Source: SecMarx — sebi:SO/EFD-2/CSD/272/FEB/2019. 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.