Sebi proceedings against Parekh Platinum acquirers closed

Mumbai, Aug 31: The Securities and Exchange Board of India (Sebi) has closed proceedings against the acquirers of Parekh Platinum Ltd’s (PPL) shares following payment of Rs five lakh as monetary penalty for violation of Sebi takeover code. The acquirers had consented to treat the proceedings before Sebi as deemed adjudication proceedings and voluntarily deposited the maximum amount of Rs five lakh with a view to closing the matter, Sebi said in a release here.

-- PTI