sebi:SO/EFD-2/SD/114/JAN/2017
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Facts / Headnote
Settled - adjudication proceedings disposed of
Regulations
- Reg. 7(1)
- Reg. 13
- Reg. 17
- Reg. 199
- Reg. 15
Parties
- Taib Securities Mauritius Limited
Holding
The adjudication proceedings initiated against the applicant vide SCN dated November 11, 2013 and possible proceedings for delay in disclosure are settled qua the applicant as per the settlement terms, and SEBI shall not proceed with any enforcement action against the applicant for the said defaults.
Full text
Settlement order in respect of Taib Securities Mauritius Limited Page 2 of 2 drawn on Citibank N.A., payable at Mumbai, remitted a sum of `16,68,645/- (Rupees Sixteen Lakh Sixty Eight Thousand Six Hundred Forty Five only) towards the settlement
charges. 5. In view of the same, the adjudication proceedings initiated against the applicant for the alleged violation of regulations 7(1), 7(1A) read with 7(2) and 10 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and the request to settle the delayed disclosure made under regulation 13 of the SEBI (Prohibition of Insider Trading) Regulations 1992, as discussed above, are settled qua the applicant as per the above terms by way of this order and accordingly SEBI shall not proceed with any enforcement action against the applicant for the said defaults.
6. In view of the above, in terms of Regulation 15 and 19 of the Settlement Regulations it is hereby ordered that: i. this order disposes of the adjudication proceedings initiated against the applicant vide SCN dated November 11, 2013 and possible proceedings for delay in disclosure as discussed above and; ii. passing of this order is without prejudice to the right of SEBI to take enforcement actions including commencing/ reopening of the pending proceedings against the applicant, if SEBI finds that: a. any representations made by the applicant in the 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/114/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.