sebi:SO/EFD-2/SD/286/MAY/2019
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Facts / Headnote
Settled
Provisions invoked
- s. 15A
- s. 15J
Regulations
- Reg. 25
- Reg. 34
- Reg. 23
- Reg. 29(1)
- Reg. 14A
Parties
- Mr. Arun Kumar Sethia
Holding
The proposed proceedings against Mr. Arun Kumar Sethia for non-disclosure under Regulation 29(1) read with 29(3) of the SAST Regulations, 2011 in respect of 5.47% acquisition in Balurghat Technologies Limited are settled qua him on payment of Rs. 3,00,000. SEBI shall not initiate any enforcement action against him for the said defaults.
Full text
Settlement Order in respect of Mr. Arun Kumar Sethia in the matter of Balurghat Technologies Limited Page 1 of 2 SO/EFD-2/SD/286/MAY/2019
Settlement Order in respect of Mr. Arun Kumar Sethia in the matter of Balurghat Technologies Limited Page 2 of 2 5. In the meantime, as the new SEBI (Settlement Proceedings) Regulations, 2018 came into effect (from 01.01.2019) by which the minimum settlement amount was increased to `3,00,000/-, SEBI, vide e-mail dated 26.03.2019 intimated the applicant to remit the additional `1,00,000/-. Thereafter, the applicant, vide e-mail dated 16.04.2019, remitted `1,00,000 (Rupees One Lakh) by way of RTGS on 16.04.2019 (Vide UTR No. SBIN51906777360 dated 16.04.2019).
BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA SUMMARY SETTLEMENT ORDER On Summary Settlement Application No. SS-09/2019
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Source: SecMarx — sebi:SO/EFD-2/SD/286/MAY/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.