August 18, 2010
PR No. 196/2010
Consent Order on the application submitted by M/s Brushman (India) Limited & its Managing Director Shri Kapil Kumar in the matter of
M/s Brushman (India) Limited
A Panel consisting of Whole Time Members, SEBI, Dr. K. M. Abraham and Shri Prashant Saran, has passed consent order dated August 13, 2010 on an application submitted by Brushman (India) Limited & its Managing Director Shri Kapil Kumar in the matter of Brushman (India) Limited, in accordance with SEBI circular dated April 20, 2007 for consent orders. The applicant has remitted a sum of Rs. 10,00,000/- (Rupees Ten lakh only) towards settlement charges as terms of consent in the matter. SEBI has accepted the said terms of settlement and this consent order disposes of the proceedings initiated against them under Section 11B of the SEBI Act, 1992 read with Regulation 11 & 12 of SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 1995 and Regulation 11 of SEBI (Prohibition of Unfair Trade Practices relating to Securities Market) Regulations, 2003.
The order has come into force with immediate effect.
Mumbai
August 18, 2010
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