Sebi slaps Rs 41 lakh fine on 3 entities for violating market norms
时间:2024-06-26 10:18:57 阅读(143)
Markets regulator Sebi on Tuesday slapped fines totalling Rs 41 lakh on three entities for flouting regulatory norms in the matter of Alps Motor Finance Ltd.The regulator imposed a fine of Rs 20 lakh on Brij Kishore Sabharwal, Rs 15 lakh on Himanshu Agarwal and Rs 6 lakh on Alps Motor Finance Ltd (AMFL). The order came after Sebi carried out an investigation to ascertain possible misutilisation of proceeds of the preferential allotments made by AMFL.Alps had made six preferential allotments during the period June-August 2013.
The period of investigation was from June-August 2013.In its probe, Sebi’s Adjudicating Officer Amit Kapoor said, “I note that the preferential allotment and disbursal of loans out of the proceeds of preferential issue took place during the tenure of the Noticees (Sabharwal and Agarwal) as directors, and that they were signatory of the bank account in which allotment proceeds were received and from which disbursal of loans was done.” Therefore, Alps Motor Finance, Sabharwal and Agarwal are vicariously responsible for the acts of AMFL and violated the PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) rules.
The order came after markets regulator Sebi observed a large-scale reversal trade in the illiquid stock options segment on BSE, leading to artificial volumes on the exchange. Thereafter, the regulator conducted an investigation into the trading activities of certain entities engaged in the segment from April 2014 to September 2015.
上一篇:Sensex, Nifty open in green, erasing Tuesday’s losses; Dabur, Airtel shares marginally higher
下一篇:Year Ender 2023- Why ed-tech startups need to press the reboot button
猜你喜欢
- Sensex rises 123 pts, Nifty closes above 18,600 in 4th straight day of gains
- Marico- Jefferies recommends Buy, price target at Rs 660 with 15% upside
- Sensex climbs 104 points; logs 6th day of gain
- Sebi’s SCORES platform disposes of 3,236 complaints in August
- Wall Street stocks rise, sterling regains some ground
- Lupin, Punjab National Bank, Zomato, Biocon, Laurus Labs, Hariom Pipe stocks in focus on 25 November
- Where is share market headed after Nifty closes above 19380, Bank Nifty above 45300; check support, resistance
- Sensex rallies over 900 pts, ends at 60,842
- Market awaits Lupin’s new product launch