sebi:SO/EFD-2/SD/293/JULY/2019
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Facts / Headnote
Settled
Provisions invoked
- s. 15J
Regulations
- Reg. 25
- Reg. 34
- Reg. 23
Parties
- Mr. Jignesh Jaswantrai Mehta and others
Holding
The proposed proceedings that could have been initiated for the defaults discussed in paragraph 1 are settled qua the applicants on the stated terms, and SEBI shall not initiate any enforcement action against the applicants for the said defaults.
Full text
Settlement Order in respect of Mr. Jignesh Jaswantrai Mehta and others (6) Page 2 of 2 “Settlement Regulations”), the Internal Committee felt it appropriate that the applications may be processed as per the Summary Settlement Procedure. Accordingly, a Notice of Summary Settlement was issued to the applicants on June 25, 2019, intimating thereby the applicants that the aforesaid defaults may be settled and disposed of upon remittance of the settlement amount of ₹6,73,888/- (Rupees Six Lakh Seventy Three Thousand Eight Hundred and Eighty Eight only), amount arrived in terms of the Settlement Regulations, within 10 working days from the date of receipt of the notice.
4. In reply, the applicants filed an application on June 26, 2019, remitted a sum of `6,73,888/- (Rupees Six Lakh Seventy Three Thousand Eight Hundred and Eighty Eight only) towards the settlement charges, vide Demand Draft Number 492937 dated June 26, 2019 drawn on State Bank of India.
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:
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Source: SecMarx — sebi:SO/EFD-2/SD/293/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.