sebi:SO/EFD-2/SD/322/DEC/2019
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Facts / Headnote
Settled qua the applicant on payment of settlement amount
Provisions invoked
- s. 11B
- s. 15J
Regulations
- Reg. 25
- Reg. 34
- Reg. 23
Parties
- Ambit Capital Pvt. Ltd.
Holding
The proceedings under Section 11B and adjudication proceedings against Ambit Capital Pvt. Ltd. in the matter of Manappuram Finance Ltd. regarding alleged possession and indirect circulation of UPSI are settled qua the applicant upon payment of Rs 5,99,25,000, with no further enforcement action for the said default.
Full text
Settlement order in respect of Ambit Capital Pvt. Ltd. in the matter of Mannapuram Finance Ltd. Page 2 of 3 opening hours. In view of the aforesaid, it is alleged that the applicant which is a market intermediary, was in possession of UPSI and the same was circulated to its clients indirectly by way of negative research report.
Settlement order in respect of Ambit Capital Pvt. Ltd. in the matter of Mannapuram Finance Ltd. Page 3 of 3 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.
3. Pursuant to the applications, the authorized representatives of the applicant had a meeting with the Internal Committee of SEBI on July 24, 2019 wherein the settlement terms were deliberated. Thereafter, the applicant, vide letter dated August 07, 2019, proposed the revised settlement terms to settle the defaults mentioned above.
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Source: SecMarx — sebi:SO/EFD-2/SD/322/DEC/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.