sebi:SO/EFD-2/SD/323/JAN/2020
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Facts / Headnote
settled
Provisions invoked
- s. 15J
Regulations
- Reg. 25
- Reg. 34
- Reg. 23
Parties
- Mr. R Sridhar
Holding
The enforcement proceedings against Mr. R Sridhar in the matter of Sabero Organics Ltd. were settled qua the applicant upon payment of settlement charges plus disgorgement with interest, disposing of the proceedings with no further enforcement action for the alleged defaults.
Full text
Settlement order in respect of Mr. R Sridhar in the matter of Sabero Organics Ltd. Page 2 of 3 settle the defaults mentioned above.
Settlement order in respect of Mr. R Sridhar in the matter of Sabero Organics Ltd. Page 3 of 3 waivers filed during the present settlement proceedings.
4. The High Powered Advisory Committee (‘HPAC’) in its meeting held on November 21, 2019 considered the settlement terms proposed and recommended the case for settlement upon payment of ₹33,46,875/- (Rupees Thirty Three Lakh Forty Six Thousand Eight Hundred Seventy Five only) along with disgorgement of ₹12,83,604/- (Rupees Twelve Lakh Eighty Three Thousand Six Hundred and Four only) and interest thereupon of ₹12,85,854/- ( Rupees Twelve Lakh Eighty Five Thousand Eight Hundred Fifty Four Only) by the applicant towards settlement charges for the aforementioned defaults. The Panel of Whole Time Members of SEBI accepted the said recommendation of the HPAC on December 10, 2019, and the same was communicated to the applicant vide e-mail dated December 10, 2019.
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Source: SecMarx — sebi:SO/EFD-2/SD/323/JAN/2020. 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.