sebi:SO/GG/VP/2022-23/6745-46
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Facts / Headnote
Adjudication proceedings disposed of on the basis of settlement terms
Provisions invoked
- s. 15A
- s. 15J
Regulations
- Reg. 25
- Reg. 28
- Reg. 23(1)
- Reg. 7(2)(a)
- Reg. 31(1)
Parties
- Cyquator Media Services Private Limited
- Essel Corporate LLP
Holding
The adjudication proceedings initiated against Cyquator Media Services Private Limited and Essel Corporate LLP were disposed of pursuant to a settlement approved by SEBI, with Noticee No. 1 paying INR 6,21,563/- and Noticee No. 2 paying INR 3,00,000/- as settlement amounts.
Full text
Settlement Order in the matter of Zee Entertainment Enterprises Limited Page 2 of 3 Regulations, 2015 and/ or Regulation 31(1)/ 31(2) r/w 31(3) of SEBI SAST Regulations, 2011.
Settlement Order in the matter of Zee Entertainment Enterprises Limited Page 3 of 3 6. The Panel of Whole Time Members of SEBI approved the said recommendation of the HPAC on June 07, 2022 and the same was communicated by SEBI to applicants on June 14, 2022. Subsequently, the applicant vide email dated June 29, 2022 informed about the remittance of the settlement amount.
3. A Show Cause Notice Ref. No. EAD-6/GG/VP/ 34210/2021 dated November 25, 2021 (hereafter referred to as “SCN”) was issued to Noticee Nos. 1 & 2 in terms of the provisions of rule 4 of the Adjudication Rules, 1995 calling upon them to show cause as to why an inquiry should not be held and penalty imposed, under section 15A(b) of the SEBI Act for the alleged violation of provisions of Regulation 7(2)(a) of SEBI PIT Regulations, 2015 and/ or Regulation 31(1)/ 31(2) r/w 31(3) of SEBI SAST Regulations, 2011.
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Source: SecMarx — sebi:SO/GG/VP/2022-23/6745-46. 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.