Markets regulator Sebi on Monday imposed Rs 7 lakh fine on Jaypee Infratech Ltd for disclosure lapses.
The company did not make disclosures with regard to series of non-convertible debt (NCD) securities issued and listed by it, as required under market norms, a Sebi order said.
Besides, it failed to inform BSE of the default in payment of interest/principal in respect of various series of NCDs, apart from other disclosure lapses.
A listed firm is obligated to disclose to the stock exchange in quarterly, half-yearly, year-to-date and annual financial statements, the extent and nature of security created and maintained with respect to its secured listed NCDs.
However, Jaypee Infratech failed to do so, the order said.
Consequently, for violation of market norms, the regulator has levied fine of Rs 7 lakh on the company.
Separately, Baader Bank Aktiengesellschaft, has settled with regulator Sebi a case of alleged disclosure lapses by paying over Rs 18 lakh as settlement amount.
It had received an intimation of allotment of 3.74 per cent shares of Parsoli Corporation Limited which necessitated certain disclosure requirements. However, it was noted that it made delayed disclosures.
Besides, it had cumulatively sold 2.97 shares of Parsoli in three different tranches and certain disclosures were required to be made in this regard but the entity failed to do so within prescribed time.
Pending the proceedings, it filed a settlement application with Sebi proposing to settle the case without admitting or denying the guilt.
The amount has been remitted in February, Sebi noted in an order passed on March 11.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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