sebi:SO/EFD-2/SD/287/MAY/2019
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Settled
Provisions invoked
- s. 11B
- s. 12A
- s. 15J
- s. 21
Regulations
- Reg. 25
- Reg. 3(a)
- Reg. 34
- Reg. 23
- Reg. 9(2)(g)
Parties
- KEI Industries Ltd.
Holding
The Section 11B proceedings initiated vide Show Cause Notice dated June 09, 2017 and the initiated adjudication proceedings against KEI Industries Ltd. in the GDR matter are settled qua the applicant on payment of Rs. 1,78,50,000 and furnishing of non-monetary undertakings, without admitting or denying findings.
Full text
Settlement order with respect to KEI Industries Ltd. in the matter of GDR Issue of KEI Industries Ltd. Page 1 of 3 SO/EFD-2/SD/287/MAY/2019
Settlement order with respect to KEI Industries Ltd. in the matter of GDR Issue of KEI Industries Ltd. Page 2 of 3 against the applicant.
Settlement order with respect to KEI Industries Ltd. in the matter of GDR Issue of KEI Industries Ltd. Page 3 of 3 i. the proceedings under Sections 11B of the SEBI Act, 1992 as well as the adjudication proceedings for the alleged 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 default, iii. this order disposes of the said the proceedings under Sections 11B of the SEBI Act, 1992 as well as adjudication in respect of the applicant as mentioned above and; iv. 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.
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/287/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.