sebi:SO/EFD-2/SD/158/AUG/2017
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Facts / Headnote
Settled
Regulations
- Reg. 17
- Reg. 15
Parties
- Sun Pharmaceutical Industries Limited & 10 Others
Holding
The proposed adjudication proceedings for the alleged violations discussed in paragraph 1 were settled qua the applicants upon payment of settlement charges, and the proceedings were disposed of with SEBI not to initiate enforcement action for the said violations.
Full text
Settlement order in respect of Sun Pharmaceutical Industries Limited & 10 Others Page 2 of 2 4. The applicants vide Demand Draft no. 119646 dated July 19, 2017, drawn on ICICI Bank, payable at Mumbai has remitted a sum of ` 18,00,000/-(Rupees Eighteen Lakh Only) towards the settlement charges.
5. Accordingly, the proposed adjudication proceedings for the alleged violation as discussed in paragraph 1 above, are settled qua the applicants as per the above terms, by way of this
order and SEBI shall not initiate any enforcement action against the applicants for the said violations. 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 applicants 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 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/158/AUG/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.