Brics and straws

Brics and straws

Brics Bank has its own limitations, and let us hope it will...
Much ado about execution

Much ado about execution

Effective delivery must be brought to the centre of policy-making...

Market regulator Sebi imposes small penalty on Unilever

Jan 31 2014, 19:07 IST
Comments 0
Sebi said companies are required to make certain statements when they are involved in takeovers. Express Sebi said companies are required to make certain statements when they are involved in takeovers. Express
SummarySebi said companies are required to make certain statements when they are involved in takeovers.

India's capital markets regulator Sebi fined Unilever Plc 5 million rupees ($79,800) for being late in making certain disclosures tied to its open offer for its domestic unit Hindustan Unilever Ltd last year.

Securities and Board Exchange of India (SEBI) did not specify which disclosures Unilever had issued late. Under Indian rules, companies are required to make certain statements when they are involved in takeovers.

The Anglo-Dutch consumer goods company had acquired a little over two-thirds of its Indian unit last year for about 2.45 billion euros.

A Hindustan Unilever official was not immediately reachable for comment. SEBI said on Friday Unilever had admitted to the omissions in disclosures but had said the delays were inadvertent in nature.

Ads by Google

More from Markets

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...