sebi:SO/EFD-2/SD/198/JAN/2018
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Facts / Headnote
Settlement of proposed adjudication proceedings; proceedings disposed of qua the applicants
Regulations
- Reg. 17
- Reg. 15
Parties
- M/s G.P. Petroleums Limited
Holding
The proposed adjudication proceedings against the applicants in the matter of M/s G.P. Petroleums Limited are settled as per the agreed terms, and SEBI shall not initiate enforcement action against the applicants for the said defaults.
Full text
Settlement order in the matter of M/s G.P. Petroleums Limited Page 2 of 2 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 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.
7. This settlement order is passed on this 29th day of January, 2018 and 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 applicants and shall also be published on the website of SEBI.
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Source: SecMarx — sebi:SO/EFD-2/SD/198/JAN/2018. 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.