sebi:SO/EFD-2/SD/311/OCTOBER/2019
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Facts / Headnote
Settled qua applicant - SEBI shall not initiate enforcement action for said defaults
Provisions invoked
- s. 15J
Regulations
- Reg. 25
- Reg. 28
- Reg. 23
Parties
- Mr. Lester Leslie Fernandes
Holding
The proposed proceedings that could have been initiated for the defaults discussed in paragraph 1 are settled qua the applicant Mr. Lester Leslie Fernandes, and SEBI shall not initiate any enforcement action against him for those defaults.
Full text
Summary Settlement Order in respect of Mr. Lester Leslie Fernandes in the matter of Chambal Breweries and Distilleries Ltd. 2 | P a g e
4. 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 read with Regulation 28 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. this order disposes of the proceedings that may be initiated for the defaults as mentioned above, in respect of the applicant 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.
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Source: SecMarx — sebi:SO/EFD-2/SD/311/OCTOBER/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.