sebi:SO/EFD-2/SD/144/MAY/2017
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Facts / Headnote
Settlement order disposing of proposed adjudication proceedings against the applicant
Regulations
- Reg. 17
- Reg. 15
Parties
- Mr. Lakshmikant Tiberwalla
Holding
The proposed adjudication proceedings against the applicant in respect of the alleged defaults are disposed of pursuant to a settlement reached under the Settlement Regulations, effective immediately.
Full text
Settlement order in respect of Mr. Lakshmikant Tiberwalla Page 2 of 2 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 representation made by the applicant in the present settlement proceedings are 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 passed on this 25th day of May, 2017 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/SD/144/MAY/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.