Markets watchdog Sebi has imposed Rs 30 lakh penalty on Mumbai-based Oasis Securities and its top officials for various disclosure lapses, including those related to sale of a business. The regulator has slapped a fine of Rs 20 lakh on the company and Rs 5 lakh each on senior officials Indra Kumar Bagri and Anil Kumar Bagri. It was alleged that the entities did not provide relevant information regarding discontinuance and transfer of stock broking and depository participant business. Besides, the company had allegedly failed to provide explanations to the stock exchanges regarding variation in net profit numbers in audited and unaudited quarterly reports for fiscal 2010-11. In an order dated June 25, Sebi General Manager and Adjudicating Officer K Saravanan said the allegations of non-compliance against the entities have been established. Consequently, a total fine of Rs 30 lakh has been imposed on them. "Disclosures are the lifeline for the investors of listed securities to decide on the investment decisions. Any compromise by a listed company in its disclosure compliance would have a telling effect affecting the interest of investors. "Therefore, I find that such disclosure related non-compliances cannot be viewed lightly," he said. In a separate order, Sebi slapped a fine of Rs 8 lakh on Ashika Stock Broking for violating stock brokers norms "In the instant matter serious lapses on the part of the noticee (Ashika Stock Broking) are observed like dealing with unregistered sub-brokers, non-collection of adequate margin from clients, not reconciling running accounts of clients as mandated, retaining client's securities without adequate reasoning," the regulator said.