sebi:SO/EFD-2/SD/237/AUG/2018
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Facts / Headnote
Settled
Regulations
- Reg. 17
- Reg. 15
Holding
The proposed adjudication proceedings and proceedings that could have been initiated for the defaults are settled qua the applicants and SEBI shall not initiate enforcement action for the said defaults.
Full text
Settlement order in the matter of SBEC Sugar Limited Page 2 of 2 was communicated to the applicants vide e-mail dated June 15, 2018.
4. The applicants vide Demand Draft number 116301 dated July 24, 2018 drawn on Axis Bank has remitted `5,16,810/- (Rupees Five Lakh Sixteen Thousand Eight Hundred Ten only) towards the settlement charges (amount included the interest @ 6% per annum for the delay in remitting the payment).
5. Accordingly, the proposed adjudication proceedings for the alleged default and the proceedings that could have been initiated for the 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.
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Source: SecMarx — sebi:SO/EFD-2/SD/237/AUG/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.