Sebi has slapped a fine of R1 lakh on one of the directors of Palsoft Infosystems for allegedly failing to disclose shareholding in the company within stipulated time-frame. Sebi in its order dated April 29 imposed a monetary penalty on Anubha Gupta, then whole-time director of Palsoft. Gupta had acquired 81,350 shares, amounting to 2.17%, of the company on January 7, 2010, the regulator found. However, she had made the disclosure about the acquisition of shares on April 13, 2010 to the stock exchange with a delay of 100 days, it said.