sebi:SO/EFD-2/SD/165/OCT/2017
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Facts / Headnote
Proposed adjudication proceedings settled and disposed of qua the applicants; SEBI shall not initiate enforcement action for the said alleged defaults
Regulations
- Reg. 17
- Reg. 15
Parties
- Ms. Falguni V Shah and 6 others
Holding
The proposed adjudication proceedings against the applicants for the alleged defaults were settled and disposed of upon payment of settlement charges. SEBI shall not initiate any enforcement action against the applicants for the said alleged defaults.
Full text
Settlement order in respect of Ms. Falguni V Shah and 6 others in the matter of Hubtown Limited Page 2 of 2 Canara Bank have remitted `15,22,800/- (Rupees Fifteen Lakh Twenty Two Thousand Eight Hundred only) towards the settlement charges.
5. Accordingly, the proposed adjudication proceedings for the alleged defaults 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 alleged 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 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 is 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/165/OCT/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.