sebi:SO/EFD-2/SD/406/MAY/2022

SEBI · SEBI · 2022-03-08 · Securities and Exchange Board of India (Whole Time Members)

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Facts / Headnote

Settled

Provisions invoked

• s. 19
• s. 15J

Regulations

• Reg. 25
• Reg. 28
• Reg. 23

Parties

• Jude Terrence D’Souza

Holding

The proceedings that may have been initiated against Jude Terrence D’Souza in the matter of Sparc Systems Limited are settled qua the Applicant upon payment of Rs. 3,00,000. SEBI shall not initiate enforcement action against the Applicant for the said default, subject to its rights under Regulation 28 of the Settlement Regulations.

Full text

Settlement Order in respect of Jude Terrence D’Souza in the matter of Sparc Systems Limited 3. Pursuant to the receipt of the application, the authorized representative of the Applicant had a meeting with the Internal Committee of SEBI on February 23, 2022 and deliberated on the terms of the settlement. Thereafter, the Applicant vide e–mail dated March 08, 2022, proposed revised settlement terms to settle the proceedings that may be initiated against him.

Settlement Order in respect of Jude Terrence D’Souza in the matter of Sparc Systems Limited 6. This Settlement Order is passed on this 31st day of May, 2022 and shall come into force with immediate effect.

4. The High Powered Advisory Committee (“HPAC”) in its meeting held on April 05, 2022, considered the revised settlement terms proposed by the Applicant and recommended the case for settlement upon payment of Rs. 3,00,000/- (Rupees Three Lakhs only). The aforesaid amount was remitted by the Applicant on May 24, 2022. The receipt of the above payment to SEBI is confirmed.

Source: SecMarx — sebi:SO/EFD-2/SD/406/MAY/2022. 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.