sebi:SO/NH/YK/2024-25/7495
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Facts / Headnote
Adjudication proceedings initiated against the Applicant vide Show Cause Notice ref no. SEBI/HO/EAD2/NH/KL/2023/44034 dated October 31, 2023 is disposed of in terms of Section 15JB of the SEBI Act read with Regulation 23(1) of the Settlement Regulations on the basis of the settlement terms.
Provisions invoked
- s. 15
- s. 15J
Regulations
- Reg. 25
- Reg. 28
- Reg. 23(1)
- Reg. 2(1)
- Reg. 3(5)
- Reg. 31(1)(b)
- Reg. 3(6)
Parties
- Elcid Investments Limited
Holding
The adjudication proceedings against Elcid Investments Limited concerning alleged violations of PIT Regulations and LODR/ICDR Regulations were disposed of pursuant to settlement terms accepted by SEBI, including payment of Rs. 17,31,510/- as settlement amount.
Full text
Settlement Order in the matter of Elcid Investments Limited Page 2 of 5 Table 1 Sr. No. Alleged Violations Regulatory Provisions
Settlement Order in the matter of Elcid Investments Limited Page 3 of 5 if any, not be imposed on it in terms of the provisions of the Sections 15A(b) and 15A(c) of the SEBI Act for the violations alleged to have been committed by the Applicant.
Settlement Order in the matter of Elcid Investments Limited Page 4 of 5 7. The recommendations of the HPAC were approved by a Panel of Whole Time Members (hereinafter referred to as “WTMs”) on June 10, 2024 and the same was communicated by SEBI to the Applicant vide email dated June 12, 2024. Subsequently, the Applicant vide email dated June 18, 2024 informed SEBI about the remittance of the aforesaid settlement amount. The said email also provided relevant details regarding the remittance of the said settlement amount. The material on record confirms the receipt of the said settlement amount.
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Source: SecMarx — sebi:SO/NH/YK/2024-25/7495. 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.