Market regulator the Securities and Exchange Board of India (Sebi) has freed pharma company Pfizer from penal charges relating to delay in compliance of its regulation, on payment of a consent fee of Rs 5 lakh.
The high-powered advisory committee constituted by Sebi considered the consent terms and recommended the case for settlement on payment of Rs 5 lakh.
"The Sebi accepted the said recommendations...This consent order is passed on February 22, 2010 and shall come into force with immediate effect," the regulator said in an order.
The Sebi further said it would not initiate any enforcement actions against Pfizer for the delay in compliance with the regulations.
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