Sebi slaps R7.5-lakh fine on 3 entities

Sep 21 2012, 20:46 IST
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SummaryMarket regulator Sebi on Thursday imposed a total penalty of Rs.7.50 lakh on three entities for alleged manipulative trading in the scrips of Videocon Industries Ltd and NRB Bearings Ltd.

Market regulator Sebi on Thursday imposed a total penalty of R7.50 lakh on three entities for alleged manipulative trading in the scrips of Videocon Industries Ltd (VIL) and NRB Bearings Ltd (NBL).

Sebi has slapped penalties on Intec Shares and Stock Brokers Ltd (ISSL), Mansukh Securities & Finance Ltd (MSFL) and one Pankaj Gupta, according to three separate orders.

According to the regulator, the defaults committed by the three entities were ‘‘repetitive in nature’’. While ISSL and MSFL, have to shell out R3.5 lakh separately as penalties, Gupta has to pay a fine of R 50,000. Sebi said the penalties are commensurate with the defaults committed by them.

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