sebi:SO/SR/EAD/01/2018-2019
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Facts / Headnote
Adjudication proceedings disposed of on settlement
Regulations
- Reg. 17
- Reg. 15(1)
Parties
- BF Utilities Limited
Holding
In terms of Regulation 15(1) of the Settlement Regulations, the adjudication proceedings initiated against BF Utilities Limited vide SCN dated July 08, 2016 are disposed of upon payment of Rs.12,24,855 as settlement amount.
Full text
Page 2 of 3 4. Thereafter, the authorized representatives of the applicant had a meeting with the Internal Committee (hereinafter referred to as ‘IC’) on March 22, 2018 and proposed the settlement terms.
Page 3 of 3 b. the applicant breaches any of the clauses /conditions of undertakings/ waivers filed during the current settlement proceedings.
5. The settlement terms as proposed by the applicant were considered by the IC and it was placed before the High Powered Advisory Committee on Consent (hereinafter referred to as ‘HPAC’) on April 09, 2018. The HPAC, after considering the facts and circumstances of the case, settlement terms offered by the applicant and the materials made available before it by SEBI, recommended that the aforesaid adjudication proceedings initiated against the applicant may be settled on payment of Rs.12,24,855/- (Rupees Twelve Lakhs Twenty Four Thousand Eight Hundred and Fifty Five Only) as settlement amount towards settlement terms as proposed by the applicant in terms of Settlement Regulations.
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Source: SecMarx — sebi:SO/SR/EAD/01/2018-2019. 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.