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Sebi slaps Rs 20lk fine on 4 people in Alexander Stamps case

Press Trust of India  |  New Delhi 

Markets regulator Sebi today imposed a penalty of Rs 20 lakh on four former directors of and Coin for failing to "frame and implement" the code of conduct as required under PIT (Prohibition of Insider Trading) Regulations.

The directors facing penalty are Sanjay A Choksi, Hitesh A Choksi, and

According to a Sebi order, Sanjay was the of the company from June 29, 1992 till May 8, 2015 and Hitesh from June 29, 1992 till July 3, 2014. While Shailesh was the from August 20, 1998 till 2007-08, Patel held the post from from June 15, 2007 till May 14, 2014.

The order follows an investigation by the (Sebi) in the scrip of and Coin - formerly known as Rudraksh Cap Tech - during September 1, 2014 to July 31, 2015.

In its order, Sebi said the four directors, by "furnishing false/forged information/documents" in response to the summons issued, "have failed to frame and implement the code of conduct" under PIT Regulations and violated the same.

Accordingly, Sebi has imposed a fine of Rs 20 lakh on the directors.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 12 2018. 18:05 IST