Sebi slaps Rs 11.50-lakh fine on 4 entities in DSJ Shares case

The Securities and Exchange Board of India (Sebi) has imposed a total penalty of Rs 11.50 lakh on four entities, including two directors of DJS Shares & Stocks for not making timely disclosures regarding their stake in the company. In four separate orders dated May 8, Sebi slapped a penalty of Rs 4 lakh on Sohesh Prakash Shah, Rs 1.50 lakh on K Annamalai and Rs 3 lakh each on Prakash Devidas Securities and Prakash Devidas Shah. According to Sebi, K Annamalai and Prakash Devidas as directors of DJS Shares traded in the scrip of the company but failed to make necessary disclosures to the company and the stock exchange within the stipulated time, according to the norms.