sebi:SO/SBM/KL/2022-23/6542
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Facts / Headnote
Adjudication proceedings disposed of on payment of settlement charges
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 13
- Reg. 25
- Reg. 28
- Reg. 23
Parties
- Vivro Financial Services Pvt. Ltd.
Holding
The adjudication proceedings initiated against Vivro Financial Services Pvt. Ltd. vide SCN dated August 10, 2021 are disposed of in terms of settlement on payment of Rs. 20,11,875 without admitting or denying findings of fact and conclusions of law.
Full text
Settlement Order in respect of Vivro Financial Services Pvt. Ltd. Page 2 of 4 is alleged that Vivro failed to ensure that only correct and complete information (w.r.t the public issue of NCDs by MMFL) reaches the investors through advertisements. Therefore, it is alleged that Vivro violated the provisions of Clause 7 of Code of Conduct of Schedule III r/w Regulation 13 of Merchant Bankers Regulations.
Settlement Order in respect of Vivro Financial Services Pvt. Ltd. Page 3 of 4 advertisements. Therefore, it is alleged that the Noticee violated the provisions of Clause 7 of Code of Conduct of Schedule III r/w Regulation 13 of Merchant Bankers Regulations.
Settlement Order in respect of Vivro Financial Services Pvt. Ltd. Page 4 of 4 9. This order is without prejudice to the right of SEBI to take enforcement actions, in terms of Regulation 28 of the Settlement Regulations, including restoring or initiating the proceedings in respect to which the settlement order was passed against the applicant, if: a. any representations made by the applicant in the settlement proceedings is subsequently found to be untrue; or b. the applicant breaches any of the clauses / conditions of undertakings / waivers filed during the current settlement proceedings.
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Source: SecMarx — sebi:SO/SBM/KL/2022-23/6542. 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.