SEBI passes consent order in P N Vijay case, six others

Market regulator Securities and Exchange Board of India (SEBI) on Wednesday passed consent orders absolving seven entities, including P N Vijay Financial Services, of financial irregularities on payment of money. "This consent order disposes of the... inquiry proceedings pending before SEBI in matter of P N Vijay Financial Services Limited " the regulator said in an order. On payment of Rs 500000 and agreeing to other terms of consent, SEBI dropped the inquiry proceedings against P N Vijay Financial Services which was instituted to verify the allegations leveled by an applicant R S Anand. SEBI also disposed of inquiry proceedings against Ahemdabad-based Ratnakar Finstock, Mumbai-based Shrikant G Mantri and First Custodian Fund (India) Limited on payment of Rs 500000 each. The regulator also issued consent orders against ADD Investments and Jyotish Bhogilal Stock Brokers on payment of Rs 300000 and Rs 1.500000 respectively. In another case, the regulator issued consent order against Jyotish Bhogilal Stock Brokers on payment of Rs 100000. SEBI issued consent orders in seven cases on the recommendations of the High Powered Advisory Committee which approved the revised terms of the consent submitted to it by the applicants.