• Rajasthan

    Cong 101
    BJP 80
    RLM 0
    OTH 15
  • Madhya Pradesh

    Cong 112
    BJP 97
    BSP 4
    OTH 8
  • Chhattisgarh

    Cong 53
    BJP 26
    JCC 9
    OTH 1
  • Telangana

    TRS-AIMIM 82
    TDP-Cong 25
    BJP 6
    OTH 6
  • Mizoram

    MNF 25
    Cong 10
    BJP 1
    OTH 4

* Total Tally Reflects Leads + Wins

Two companies pay Rs 21.63 lakh to settle cases with Sebi

By: | Published: April 14, 2017 5:52 PM

Two companies -- Abans Enterprises and PH Trading-- have settled cases with Sebi on alleged lapses in disclosure requirements after paying a total of Rs 21.63 lakh.

Abans Enterprises and PH Trading paid Rs 12.75 lakh and Rs 8.88 lakh, respectively towards settlement charges under the Sebi regulations. (Reuters)

Two companies — Abans Enterprises and PH Trading– have settled cases with Sebi on alleged lapses in disclosure requirements after paying a total of Rs 21.63 lakh. Abans Enterprises and PH Trading paid Rs 12.75 lakh and Rs 8.88 lakh, respectively towards settlement charges under the Sebi regulations. “Accordingly, the adjudication proceedings proposed to be initiated against the applicant (Abans Enterprises, PH Trading) for the alleged violation… are settled,” Sebi said in similar worded settlement orders dated April 12 adding that it would not initiate any enforcement action for the alleged defaults. The regulator had initiated adjudication proceedings against the two companies “for the delay in making disclosures as required under… Sebi (SAST) Regulations”.

Following this, the firms had offered to settle the cases on payment of charges.

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Thereafter, Sebi’s High Powered Advisory Committee recommended the case for settlement on the payment of the amount. This was also approved by Sebi’s panel of whole-time members, following which the companies remitted the amount.

Accordingly, Securities and Exchange Board of India (Sebi) has disposed of the adjudication proceedings initiated against the companies.

It further said that enforcement actions, including commencing or reopening of the proceedings, could be initiated if any representation made by the companies is found to be untrue.

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