sebi:SO/PM/VC/2020-21/6253
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Facts / Headnote
Adjudication proceedings initiated against Mr. Nishat Shailesh Gupte vide SCN dated March 22, 2017 are disposed of on the basis of the settlement terms.
Provisions invoked
- s. 15J
Regulations
- Reg. 25
- Reg. 28
- Reg. 23(1)
- Reg. 3(1)
- Reg. 24(2)
Parties
- Mr. Nishat Shailesh Gupte
Holding
The adjudication proceedings against Mr. Nishat Shailesh Gupte under the SCN dated March 22, 2017 were disposed of pursuant to a settlement under section 15JB of the SEBI Act read with Regulation 23(1) of the Settlement Regulations, on payment of Rs. 45,23,500/- and voluntary compliance of non-monetory terms.
Full text
Page 2 of 5 of Unpublished Price Sensitive Information (UPSI) and the Noticee, being an insider, had communicated the said UPSI to the said entities.
Page 3 of 5 Not to buy, sell or otherwise deal in securities market in any manner whatsoever or access the securities market directly or indirectly, for a period of 7 years; Not to associate with any listed company and any public company which intends to raise money from public or any intermediary registered with SEBI for a period of seven years. The abovementioned two terms are hereinafter referred to as ‘non- monetory terms’ The abovementioned settlement amount and non-monetory terms were communicated to the authorised representatives of the applicant. The applicant vide Email dated August 28, 2020 proposed payment of Rs. Rs. 45,23,500/- (Rupees Forty Five Lakh Twenty Three Thousend Five Hundred Only) towards full and final settlement of all regulatory, civil or criminal proceedings in relation to the facts contained in the SCN without admitting or denying any violation on the part of the applicant. The applicant also agreed for voluntary compliance of non-monetory terms.
Page 4 of 5 8. The applicant vide an Email dated October 22, 2020 informed SEBI that he has remitted a sum of Rs. 45,23,500/- (Rupees Forty Five Lakh Twenty Three Thousend Five Hundred Only) towards the settlement
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Source: SecMarx — sebi:SO/PM/VC/2020-21/6253. 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.