sebi:SO/EFD-2/SD/108/JAN/2017
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Facts / Headnote
Settlement of proposed adjudication proceedings; enforcement action waived
Regulations
- Reg. 17
- Reg. 15(1)
- Reg. 29(2)
- Reg. 19
Parties
- SBICAP Trustee Company Limited
Holding
The proposed adjudication proceedings against SBICAP Trustee Company Limited for delayed compliance of regulations 29(2), 29(3) and 29(4) of the SAST Regulations, 2011 are settled as per the terms of the order, and SEBI shall not initiate enforcement action against the applicant for the said default.
Full text
Settlement order in respect of SBICAP Trustee Company Limited in the matter of M/s Sindhu Trade Links Limited Page 2 of 2
5. In view of the same, the adjudication proceedings proposed to be initiated against the applicant for the delayed compliance of regulations 29(2), 29(3) and 29(4) of the SAST Regulations, 2011 as discussed above, is 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 regulation 15(1) and regulation 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/ reopening of the proceedings against the applicant, if SEBI finds that: a. any representations made by the applicant in these settlement proceedings are subsequently discovered to be untrue; b. the applicant has breached any of the clauses/ conditions of undertakings/ waivers filed during the current settlement proceedings.
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Source: SecMarx — sebi:SO/EFD-2/SD/108/JAN/2017. 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.