JSW Steel Ltd. JSW Centre, Bandra (East), Mumbai v/s Securities & Exchange Board of India SEBI Bhawan
Appeal No. 307 of 2017
Decided On, 15 May 2018
At, SEBI Securities Exchange Board of India Securities Appellate Tribunal
By, THE HONOURABLE MR. JUSTICE J.P. DEVADHAR By, PRESIDING OFFICER
For the Appellant: Karishni Khanna, i/b. Cyril Amarchand Mangaldas, Advocates. For the Respondent: Santanu Mitra, Anubhav Ghosh, i/b. Desai & Diwanji, Advocates.
Judgment Text
Oral:
1. This appeal is filed to challenge the order passed by the Adjudicating Officer (‘AO’ for short) of Securities and Exchange Board of India (‘SEBI’ for short) on 31st August, 2017. By the said order penalty of Rs.2.5 lakh was imposed on the appellant under Section 15C of the Securities and Exchange Board of India Act, 1992.
2. Counsel for the parties state that the appellant had filed a settlement application and on SEBI allowing the settlement application appellant has already paid the amount quantified under the settlement terms.
3. Accordingly, approval is granted under Regulation 16(2) of the Securities and Exchange Board of India (Settlement of Administrative and Civil Proceedings) Regulation, 2014 for settlement of the proceedings.
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> 4. Appeal is disposed of in terms of the settlement with no order as to costs.
