sebi:SO/PSD/2024-25/8085
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Facts / Headnote
Settled
Provisions invoked
- s. 19
- s. 15J
Regulations
- Reg. 25
- Reg. 28
- Reg. 31
- Reg. 23
- Reg. 9(1)
Holding
SEBI settled any proceedings that may be initiated against the Applicant for the alleged trading-window violations upon payment of the settlement, disgorgement and interest amounts, with no enforcement action to be initiated for those violations.
Full text
2 (b) It was noted that pursuant to the listing of the equity shares of the company on the National Stock Exchange of India Limited and BSE Limited, the trading window for dealing in equity shares of the company was closed from July 10, 2024 till the completion of 48 hours after the declaration of Financial Results of the company for the quarter ended June 30, 2024. The company declared its financial results, as per exchanges’ website, on July 31, 2024. Accordingly, the trading window was closed till August 02, 2024.
3 to as “IC”) of SEBI on October 25, 2024 and January 8, 2025 wherein the details of the case were deliberated along with the terms of settlement.
4 7. On the basis of the facts stated above, in exercise of the powers conferred under Section 15JB read with Section 19 of the SEBI Act and in terms of Regulation 23 of the Settlement Regulations, it is hereby ordered that any proceedings that may be initiated for the violations as mentioned at paragraph 1 above, are settled in respect of the Applicant on the following terms: i. SEBI shall not initiate any enforcement action against the Applicant for the said violations, and ii. Passing of this Order is without prejudice to the right of SEBI under Regulation 28 and Regulation 31 of the Settlement Regulations to initiate appropriate action against the Applicant, if SEBI finds that: (a) any representation made by the Applicant in the present settlement proceedings is subsequently found to be untrue; (b) the Applicant has breached any of the clauses/ conditions of undertakings/ waivers filed during the present settlement proceedings; and (c) the Applicant has failed to pay the difference due to any discrepancy while arriving at the settlement terms.
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Source: SecMarx — sebi:SO/PSD/2024-25/8085. 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.