sebi:SO/EFD-2/SD/174/NOV/2017
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Facts / Headnote
Settlement proceedings disposed of; no enforcement action to be initiated against the applicants for the alleged default.
Regulations
- Reg. 17
- Reg. 15
Parties
- Ms. Sushila Devi Singhania & Ors.
Holding
The proceedings that may be initiated for the alleged default are settled qua the applicants upon payment of settlement charges of Rs. 18,75,000/-, and SEBI shall not initiate enforcement action against them for the said alleged default.
Full text
Settlement order in respect of Ms. Sushila Devi Singhania & Ors. Page 2 of 2 Bank have remitted `18,75,000/- (Rupees Eighteen Lakh Seventy Five Thousand only) towards the settlement charges.
5. Accordingly, the proceedings that may be initiated for the default 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 default.
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 proceedings that may be initiated for the default as mentioned above, in respect of the applicants 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/174/NOV/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.