sebi:SO/EFD-2/SD/273/MAR/2019
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Facts / Headnote
settled
Provisions invoked
- s. 15J
Regulations
- Reg. 25
- Reg. 23
Parties
- JF Asset Management Limited
Holding
The proposed proceedings for the defaults discussed in paragraph 1 are settled qua JF Asset Management Limited on payment of Rs. 5,15,625 towards settlement charges, and SEBI shall not initiate enforcement action against the applicant for the said defaults.
Full text
Settlement order in respect of JF Asset Management Limited Page 2 of 2 proposing to settle the defaults as discussed in para 1 above, through a settlement order on February 11, 2019. Along with the said application, the applicant also forwarded a demand draft bearing number 199626 dated February 08, 2019 drawn on J.P. Morgan Chase Bank N.A. remitting a sum of `5,15,625/- (Rupees Five Lakh Fifteen Thousand Six Hundred Twenty Five only) towards the settlement charges.
4. In view of the above, in exercise of the powers conferred under Section 15JB of the Securities and Exchange Board of India Act, 1992 and in terms of Regulations 23 and 28 of the SEBI (Settlement Proceedings) Regulations, 2018, it is hereby ordered that: i. the proposed proceedings that could have been initiated for the default as discussed in paragraph 1 above, are settled qua the applicant as per the above terms, ii. SEBI shall not initiate any enforcement action against the applicant for the said defaults, iii. 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.
5. This settlement order is passed on this 5th day of March, 2019 and shall come into force with immediate effect. 6. In terms of Regulation 25 of the SEBI (Settlement Proceedings) Regulations, 2018, a copy of this order shall be sent to the applicant and be published on the website of SEBI.
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Source: SecMarx — sebi:SO/EFD-2/SD/273/MAR/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.