sebi:SO/EFD-2/SD/115/JAN/2017
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Facts / Headnote
Settled
Regulations
- Reg. 17
- Reg. 13(1)
- Reg. 15
- Reg. 29(1)
Holding
The proposed adjudication proceedings against the applicant for delayed compliance of regulations 29(1) read with 29(3) of the SAST Regulations and regulation 13(1) of the PIT Regulations for March 25, 2015 to February 19, 2016 are settled on payment of Rs 4,50,000, and SEBI shall not initiate enforcement action for the said defaults.
Full text
Application No. 3086 of 2016 Page 2 of 2 4. Accordingly, the applicant vide Demand Draft no. 014535 dated January 03, 2017, drawn on ICICI Bank, payable at Mumbai has remitted a sum of `4,50,000/- (Rupees Four Lakhs Fifty Thousand only) towards the settlement charges.
5. In view of the same, the adjudication proceedings proposed to be initiated against the applicant for the delayed compliance of regulations 29(1) read with 29(3) of the SAST Regulations and regulation 13(1) of the PIT Regulations during the period starting from March 25, 2015 to February 19, 2016 as discussed 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 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 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 representations made by the applicant in the consent 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/115/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.