Sebi has slapped a total penalty of R30 lakh on Supertex Industries promoter group firm and another individual for alleged fraudulent trade practices in shares of the company back in 2009. In two separate orders, Sebi imposed a fine of R20 lakh on Supertex's promoter Super Infincon and R10 lakh on Danish Merchant, a preferential allotee of the company's shares, for indulging in synchronised trades in the scrip of the company.
Sebi directs Ecogreen not to raise money from public
Cracking down on a fraudulent realty investment scheme, Sebi has barred Ecogreen Real Estate, its directors and promoters from mobilising funds from the public as well as from launch any new scheme. A preliminary probe by Sebi found that the UP-based company was inviting applications to book plots of residential/commercial land under 'Land-Linked — One Time Payment Plan' scheme.
Reliance MediaWorks exit price set at R61/share
The exit price for the delisting of Reliance MediaWorks has been fixed at R61 a share at a premium of 25.39% over the floor price. In a filing to the BSE, promoters of Reliance MediaWorks (RML) — Reliance Land and Reliance Capital — said the public shareholders of the company were invited to submit bids pursuant to a reverse book-building process and arrived at the exit price.
Sebi mulls pension fund for employees
Sebi is mulling the feasibility of a pension or superannuation fund for its employees as part of efforts to retain talent by providing long-term benefits to the staff. The proposal has been discussed by Sebi’s Committee on Rationalisation of Financial Resources, which favours setting up such a fund, sources said.