sebi:SO/EFD-2/SD/152/JULY/2017
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Facts / Headnote
Settled
Regulations
- Reg. 17
- Reg. 15
Parties
- Kiran Vyapar Limited
- Maharaja Shree Umaid Mills Limited
Holding
The possible proceedings for the alleged violations against Kiran Vyapar Limited and Maharaja Shree Umaid Mills Limited are settled and disposed of, and SEBI shall not initiate any enforcement action against the applicants for the said defaults.
Full text
Settlement order in respect of Kiran Vyapar Limited and Maharaja Shree Umaid Mills Limited Page 2 of 2 4. Accordingly, Kiran Vyapar Limited vide Demand Draft no. 063186 dated June 29, 2017, drawn on HDFC Bank has remitted `9,10,594 (Rupees Nine Lakh Ten Thousand Five Hundred Ninety Four only) and Maharaja Shree Umaid Mills Limited vide Demand Draft no. 029173 dated June 29, 2017, drawn on Standard Chartered Bank has remitted `11,25,095 (Rupees Eleven Lakh Twenty Five Thousand and Ninety Five only) towards the settlement charges.
5. Accordingly, by way of this order, the possible proceedings for the alleged violations as discussed in paragraph 1 above, are settled qua both the applicants as per the above terms and SEBI shall not initiate any enforcement action against the applicants for the said defaults.
6. In view of the above, in terms of regulations 15 and 19 of the Settlement Regulations, it is hereby ordered that: i. this order disposes of the possible proceedings in respect of the applicants as mentioned above and; ii. passing of this order is without prejudice to the right of SEBI to take enforcement actions including commencing possible proceedings against the applicants, if SEBI finds that: a. any representation made by the applicants in the present settlement proceedings are subsequently discovered to be untrue; b. the applicants have breached any of the clauses/ conditions of undertakings/ waivers filed during the present settlement proceedings.
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Source: SecMarx — sebi:SO/EFD-2/SD/152/JULY/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.