sebi:SO/EFD-2/SD/292/JULY/2019
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Facts / Headnote
Settled
Provisions invoked
- s. 15J
Regulations
- Reg. 25
- Reg. 34
- Reg. 23
Parties
- Mr. Damodar Prasad Sarda
Holding
The proposed proceedings that could have been initiated for the defaults discussed in paragraph 1 are settled qua the applicant, and SEBI shall not initiate any enforcement action against the applicant for the said defaults.
Full text
Settlement Order in respect of Mr. Damodar Prasad Sarda Page 2 of 2 5. 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 read with Regulation 34 of the Settlement Regulations, it is hereby ordered that:
i. the proposed proceedings that could have been initiated for the defaults 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.
6. This settlement order is passed on this 10th day of July, 2019 and shall come into force with immediate effect. 7. In terms of Regulation 25 of the Settlement Regulations, a copy of this order shall be sent to the applicant and shall also be published on the website of SEBI.
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Source: SecMarx — sebi:SO/EFD-2/SD/292/JULY/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.