sebi:SO/SM/AD/2023-24/6837
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Adjudication proceedings initiated vide SCN dated February 01, 2022 disposed of in terms of Section 15JB of the SEBI Act read with Regulation 23(1) of the Settlement Regulations upon payment of settlement amounts
Provisions invoked
- s. 15
- s. 19
- s. 15J
- s. 21
- s. 23
Regulations
- Reg. 13
- Reg. 25
- Reg. 28
- Reg. 23(1)
- Reg. 3(1)
- Reg. 7(1)(a)
- Reg. 30(2)
- Reg. 3(4)
- Reg. 8(2)
- Reg. 30(3)
- Reg. 30(1)
- Reg. 31
- Reg. 4(2)(f)(i)
- Reg. 3(1)(e)(i)
Parties
- Jindal Saw Limited
- Hexa Tradex Limited
- JITF Infralogistics Limited
- Sigmatech Inc
- Prithavi Raj Jindal
Holding
The instant adjudication proceedings initiated against the Applicants vide Show Cause Notice dated February 01, 2022 are 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.
Full text
Settlement Order in the matter of Jindal Saw Limited, Hexa Tradex Limited and JITF Infralogisitics Limited Page 2 of 4 thereby has allegedly violated Regulation 31 of the LODR Regulations read with SEBI Circular No. CIR/CFD/CMD/13/2015 dated November 30, 2015. It was further observed that Applicant 1 has violated the provisions of Regulations 30(1), (2) and (6) of LODR Regulations read with sub-para 1 of Para A of Part A of Schedule III of LODR Regulations read with corresponding provisions of SEBI circular no. CIR/CFD/CMD/4/2015 dated September 09, 2015.
Settlement Order in the matter of Jindal Saw Limited, Hexa Tradex Limited and JITF Infralogisitics Limited Page 3 of 4 referred to as ‘SCRA Adjudication Rules’) (both rules collectively referred to as ‘Adjudication Rules’) read with Section 19 of the SEBI Act.
Settlement Order in the matter of Jindal Saw Limited, Hexa Tradex Limited and JITF Infralogisitics Limited Page 4 of 4 Applicant 3 JITF Infralogistics Limited 9,13, 900/- (Nine Lakh Thirteen Thousand Nine Hundred Only ) Applicant 4 Sigmatech Inc 49, 46,175/- (Rupees Forty-Nine Lakh Forty-Six thousand One Hundred and Seventy Five Only) Applicant 5 Prithavi Raj Jindal 24, 70, 000/-(Rupees Twenty Four Lakh Seventy Thousand Only)
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:SO/SM/AD/2023-24/6837. 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.