sebi:SO/SM/DD/2020-21/6268
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Facts / Headnote
Disposed of in terms of Section 15JB of the SEBI Act, 1992 read with regulation 23(1) of the Settlement Regulations on the basis of the settlement terms
Provisions invoked
- s. 15J
Regulations
- Reg. 25
- Reg. 28
- Reg. 23(1)
- Reg. 31
- Reg. 7(2)
- Reg. 3(1)
- Reg. 31(2)
- Reg. 31(3)
Parties
- DMDVPL
Holding
The instant adjudication proceedings initiated against DMDVPL vide SCN dated September 11, 2020 are disposed of in terms of Section 15JB of the SEBI Act, 1992 read with regulation 23(1) of the Settlement Regulations on the basis of the settlement terms upon payment of Rs. 29,08,594/- towards settlement charges.
Full text
was appointed as the AO in the said matter by SEBI vide Communiqué dated December 31, 2020. 3. In this regard, a Show Cause Notice ref.no. EAD/ADJ/BJD/AB/OW/15032/3/2020 dated September 11, 2020 (hereinafter referred to as ‘SCN’) was issued to the Noticee. The observations and allegations levelled against the Noticee in the aforesaid SCN are given hereunder in brief:
(hereinafter referred to as 'HPAC') in its meeting held on December 30, 2020, considered the settlement terms proposed and recommended that the case may be settled upon payment of Rs. 29,08,594/- (Rupees Twenty Nine Lakh Eight Thousand Five Hundred Ninety Four) towards settlement charges by the applicant.
a) It was observed during the examination that there were certain transactions in the done by the Noticee in the scrip of DTIL wherein there was a delay in making necessary disclosures to DTIL. It was observed that there were delay in making disclosures by the Noticee on nine occasions. Out of these nine occasions, two of the disclosures were related to invocation of pledge and both these transactions were reported with a delay of 72 days, while the remaining seven disclosures related to creation of pledge, for which the delay ranged from one to three days.
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Source: SecMarx — sebi:SO/SM/DD/2020-21/6268. 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.