sebi:SO/EFD-2/SD/309/SEPTEMBER/2019
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Facts / Headnote
Settlement of enforcement and adjudication proceedings against the applicant upon payment of settlement amount, disgorgement, and interest; enforcement proceedings disposed of.
Provisions invoked
- s. 12A
- s. 15J
Regulations
- Reg. 25
- Reg. 3(i)
- Reg. 34
- Reg. 23
- Reg. 12
Parties
- Mr. Kailash Pratap Mariwala
Holding
The enforcement and adjudication proceedings against Mr. Kailash Pratap Mariwala for alleged insider trading in the scrip of Sabero Organics Limited are settled without admission of findings, upon payment of ₹70,45,738 as settlement charges along with disgorgement of ₹31,57,753 and interest of ₹30,72,967. SEBI shall not initiate any enforcement action against the applicant for the said alleged defaults.
Full text
Settlement order in respect of Mr. Kailash Pratap Mariwala in the matter of Sabero Organics Ltd. Page 1 of 3 SO/EFD-2/SD/309/SEPTEMBER/2019
Settlement order in respect of Mr. Kailash Pratap Mariwala in the matter of Sabero Organics Ltd. Page 2 of 3 considered the settlement terms proposed and recommended the case for settlement upon payment of ₹70,45,738/- (Rupees Seventy Lakh Forty Five Thousand Seven Hundred Thirty Eight only) along with disgorgement of ₹31,57,753(Rupees Thirty One Lakh Fifty Seven Thousand Seven Hundred Fifty Three only) with interest thereupon of ₹30,72,967 (Rupees Thirty Lakh Seventy Two Thousand Nine Hundred Sixty Seven Only ) by the applicants towards settlement charges for the aforementioned defaults. The Panel of Whole Time Members of SEBI accepted the said recommendation of the HPAC on August 22, 2019, and the same was communicated to the applicants vide e-mail dated August 28, 2019.
Settlement order in respect of Mr. Kailash Pratap Mariwala in the matter of Sabero Organics Ltd. Page 3 of 3 7. This settlement order is passed on this 27th day of September, 2019 and shall come into force with immediate effect.
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Source: SecMarx — sebi:SO/EFD-2/SD/309/SEPTEMBER/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.