sebi:SO/EFD-2/SD/258/JAN/2019
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Facts / Headnote
Settled
Regulations
- Reg. 25
- Reg. 15
- Reg. 29(2)
- Reg. 29(3)
- Reg. 10(6)
- Reg. 14A(3)
- Reg. 34(2)(a)
- Reg. 14B
Parties
- Empire International Private Limited
- Arjun Transport Company Private Limited
- Satish Chandra Malhotra
- S C Malhotra as Trustee of Empire Dyeing Employees Welfare Fund
- Dileep Malhotra
- Ranjit Malhotra
- Usha Devi Malhotra
- Uma Malhotra
- Kabir Malhotra
- Anjali Malhotra
Holding
The proposed adjudication proceedings for the alleged disclosure defaults are settled qua the ten applicants upon remittance of Rs. 6,83,226, and SEBI shall not initiate any enforcement action against them for the said defaults.
Full text
Settlement order in the matter of Empire Industries Limited Page 1 of 3 SO/EFD-2/SD/258/JAN/2019 BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA SUMMARY SETTLEMENT ORDER On Settlement Application No. 3392/2017
Settlement order in the matter of Empire Industries Limited Page 2 of 3 3. The authorized representatives of the applicants had a meeting with the Internal Committee on December 28, 2018. During the said meeting, as the application was fulfilling the requirement of Chapter VIA of the SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014, (hereinafter referred to as “Settlement Regulations”), the Internal Committee felt it appropriate that the application may be processed as per the Summary Settlement Procedure. Accordingly, a notice of summary settlement was issued on January 09, 2019, in terms of Regulation 14B (Summary Settlement Procedure) of the Settlement Regulations intimating the applicants that the aforesaid default may be settled and disposed of upon remittance of settlement amount of `6,83,226/- (Rupees Six Lakh Eighty Three Thousand Two Hundred Twenty Six Only) (amount arrived in terms of Settlement Regulations) within 10 working days from the date of receipt of the notice.
Settlement order in the matter of Empire Industries Limited Page 3 of 3 immediate effect. 7. In terms of regulation 25 of the SEBI (Settlement Proceedings) Regulations, 2018, a copy of this
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Source: SecMarx — sebi:SO/EFD-2/SD/258/JAN/2019. 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.