sebi:SO/EFD-2/SD/284A/APR/2019
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Facts / Headnote
Addendum issued clarifying that settlement amount is in addition to impounded amount and directing transfer of impounded amount to SEBI Investor Protection and Education Fund
Holding
SEBI clarified that the settlement amount paid by Sharekhan Ltd. is in addition to the amount impounded under the July 31, 2015 order, and directed that the impounded amount be transferred to the SEBI Investor Protection and Education Fund with the April 23, 2019 settlement order to be read with this addendum.
Full text
Settlement order with respect to Front Running by Manish Chaturvedi and others Page 1 of 1 SO/EFD-2/SD/284A/APR/2019 BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA ADDENDUM TO SETTLEMENT ORDER On Application No.3469/2018 and 3800/2018 filed by Sharekhan Ltd. (PAN AAECS5096H) in the matter of Front Running by Manish Chaturvedi and others ______________________________________________________________________________ Securities and Exchange board of India (hereinafter referred to a s ‘SEBI’) passed a Settlement
Order bearing reference number SO/EFD-2/SD/284/APR/2019 dated April 23, 2019 on an application filed by Sharekhan Ltd. in the matter of Front Running by Manish Chaturvedi and others. The following addendum is being issued in the said settlement order and it is further clarified as follows:
1. Prior to issuance of show cause notice, in the same matter, an impounding order was passed by SEBI against the applicant on July 31, 2015 directing it to deposit ` 50,93,894/- (which included illegal gains of ` 30,83,807/- and interest of ` 20,10,087/-) in an interest bearing escrow account. The applicant, in compliance with the said order had credited the said amount in an escrow account no. 477600DP00000020 with Punjab National Bank on August 01, 2015.
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Source: SecMarx — sebi:SO/EFD-2/SD/284A/APR/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.