sebi:SO/EFD-2/SD/243/OCT/2018
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Settlement of proposed adjudication proceedings; application settled on payment of settlement charges
Regulations
- Reg. 17
- Reg. 15
- Reg. 30(2)
Parties
- Mr. Ashok Vishwanath Hiremath
Holding
The proposed adjudication proceedings against the applicant for delayed compliance of Regulation 30(2) and 31(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 are settled upon payment of Rs. 2,01,447 as settlement charges, and SEBI shall not initiate enforcement action against the applicant for the said defaults.
Full text
Settlement order in the matter of Astec Life Sciences Limited Page 1 of 2 SO/EFD-2/SD/243/OCT/2018 BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA SETTLEMENT ORDER On Application No. 3427 of 2017 Filed by Mr. Ashok Vishwanath Hiremath [PAN: AAAPH4452K] In the matter of Astec Life Sciences Limited
Settlement order in the matter of Astec Life Sciences Limited Page 2 of 2 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.
1. Mr. Ashok Vishwanath Hiremath (hereinafter referred to as ‘applicant’) filed a settlement application in terms of the SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014 (‘Settlement Regulations’), while admitting the findings of fact and conclusions of law, proposing to settle, through a settlement order, the proposed adjudication proceedings intimated vide Notice of Approved Enforcement Action dated April 13, 2017, for the delayed compliance of Regulation 30(2) (i.e. delay in making annual disclosure) and 31(1) (i.e. delay in disclosure of encumbered shares) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:SO/EFD-2/SD/243/OCT/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.