sebi:SO/EFD-2/SD/216/MAR/2018
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Facts / Headnote
Settled - pending adjudication proceedings disposed qua applicant with no enforcement action for said defaults
Regulations
- Reg. 17
- Reg. 15
Parties
- Mr. Arunkumar Mahabir Prasad Jatia
Holding
The pending adjudication proceedings and proceedings that could have been initiated for the defaults discussed in paragraph 1 are settled qua the applicant on payment of Rs. 12,42,149 as settlement charges, and SEBI shall not initiate any enforcement action against the applicant for the said defaults.
Full text
Settlement order in respect of Mr. Arunkumar Mahabir Prasad Jatia Page 2 of 2 4. The applicant vide Demand Draft number 080571 dated March 21, 2018, drawn on IDBI Bank has remitted `12,42,149/- (Rupees Twelve Lakh Forty Two Thousand One Hundred and Forty Nine only) towards the settlement charges.
5. Accordingly, the pending adjudication proceedings for the alleged defaults and the proceedings that could have been initiated for the defaults as discussed in paragraph 1 above, are settled qua the applicant as per the above terms, by way of this order and SEBI shall not initiate any enforcement action against the applicant 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 pending adjudication proceedings and the proceedings that may be initiated for the defaults in respect of the applicant 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 applicant, if SEBI finds that: a. any representation made by the applicant in the present settlement proceedings is subsequently discovered to be untrue; b. the applicant has 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/216/MAR/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.