Sebi fines Rs 7 lakh on Shapoorji Pallonji and Company for violating disclosure rules
时间:2024-06-26 16:51:10 阅读(143)
Capital markets regulator Sebi has imposed a penalty of Rs 7 lakh on Shapoorji Pallonji and Company for flouting disclosure norms.
In its order, Sebi found that Shapoorji Pallonji and Company did not take prior approval from the stock exchange for converting non-convertible debentures (NCDs) into a term loan way back in March 2021.
Additionally, the company had not updated certain information on its website as required under the Listing Obligations and Disclosure Requirements (LODR) Regulations.
Those details are pertaining to notice of meeting of the board of directors where financial results would be discussed; financial results; complete copy of the annual report after FY 2019-20; information, report, notices, call letters, circulars, proceedings, concerning NCRPS or NCDs; and all information and reports including compliance reports filed by the listed entity.
By not making such disclosures, the company violated the provisions of LODR rules and accordingly, Sebi imposed a “penalty of Rs 7 lakh on the noticee viz. Shapoorji Pallonji and Company Pvt. Ltd”.
The regulator received a letter from Shapoorji Pallonji and Company in July 2021 informing Sebi that it had converted its listed NCDs to term loan on March 31, 2021 in accordance with a One Time Resolution (OTR) plan executed between the company and its lenders.
Following this, an examination was carried out by Sebi in order to examine the compliance status of LODR rules by the company.
猜你喜欢
- Telcos’ infra spends rose 59% in 3 years due to OTTs data traffic- COAI
- Will Nifty breach the 19850 level- See GIFT Nifty, FII data, F&O ban, crude, more before market opens
- Markets bounce back on fag-end buying in RIL, ITC
- Wipro, L&T, Tata Power, Bajaj Auto, Maruti Suzuki, Bajaj Finance stocks in focus on weekly F&O expiry
- Zomato share price may rally 21%, says HSBC; grocery business termed ‘poison pill’, check target
- Manyavar-owner Vedant Fashions up 25% from IPO price in less than 4 months; this brokerage sees 12% upside
- World Aquatics Championships 2023- International swimmers’ impressive acrobatics stun the audience – See Photos
- The Year Ahead 2024- Bugs on digital highway
- Will Nifty rise above 19000 or sink further in trade- See GIFT Nifty, FII data, F&O ban, crude, more before market opens