sebi:WTM/SM/IVD/ID10/18679-18690/2022-23
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Facts / Headnote
Addendum modifying paragraph 22 of the order dated May 27, 2022 to correct an incorrect factual statement regarding payment of penalty by the 12 Noticees; Noticees (except Noticee no. 2) directed to remit penalty within 45 days.
Provisions invoked
- s. 15H
Parties
- Sagar Kadam
- Dharmendra Harilal Bhojak
- Mahadev Zilu Gawade
- Sorab Wadia
- Kalpana Mukesh Ruia
- Vallabhbhai Kakadiya
- Santosh Agarwal
- Jigna Vipul Vora
- Ashraf Usmani
- Ravi Ramniklal Kothari
- Nandkishore Didwania
- Pankaj Jayantilal Dave
Holding
The addendum corrects paragraph 22 of the May 27, 2022 order, which incorrectly recorded that all 12 Noticees had paid INR 1.5 Lakh each, and clarifies that only a few Noticees had made partial payments towards the joint and several liability of INR 18 Lakh.
Full text
Addendum to Order in the matter of Finalysis Credit and Guarantee Company Limited Page 1 of 3 WTM/SM/IVD/ID10/18679-18690/2022-23 SECURITIES AND EXCHANGE BOARD OF INDIA
Addendum to Order in the matter of Finalysis Credit and Guarantee Company Limited Page 2 of 3 INR 18.00 Lakh that was earlier imposed jointly and severally on the 12 Noticees, has been deposited, as each of the said 12 Noticees had deposited INR 1.5 Lakh. 2. Now, it has been brought to my notice that the paragraph 22 of the said order inadvertently records an incorrect statement, i.e., “However, it has now been brought to my knowledge that notwithstanding taking myriad arguments in the present proceedings to assail the legal sanctity of the order dated September 03, 2020, all the 12 Noticees have now on their own volition have paid INR 1.50 Lakh each, aggregating to the original joint and several liability of penalty amount of INR 18 Lakh.”
Addendum to Order in the matter of Finalysis Credit and Guarantee Company Limited Page 3 of 3 by clicking on the payment link: ENFORCEMENT -> Orders -> Orders of Chairman/Members -> PAY NOW. In case of any difficulties in payment of penalties, the Noticee may contact the support at portalhelp@sebi.gov.in.
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Source: SecMarx — sebi:WTM/SM/IVD/ID10/18679-18690/2022-23. 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.