Sameer Financial Services settles case with Sebi

Sameer Financial Services has settled a case related to alleged disclosure lapses with markets regulator Sebi after payment of Rs 2.66 lakh as settlement charges.
In another case, it settled with 18 entities for Rs 2 lakh in charges.
The regulator had initiated adjudication proceedings against Sameer Financial for allegedly violating Sebi (Substantial Acquisition of Shares and Takeovers) Regulations with regard to non-disclosure of shareholding in Emed.com Technologies to the stock exchange.
According to a Sebi order dated October 30, Sameer Financial had filed an application to settle the proceedings.
The terms proposed by the firm were considered by Sebi's High Powered Advisory Committee (HPAC), which recommended the matter for settlement on payment of Rs 2.66 lakh. This was approved by the panel of whole time members of the regulator.

On October 16, the company paid the settlement amount of Rs 2.66 lakh following which the Securities and Exchange Board of India (Sebi) disposed of the adjudication proceedings.
However, it said that if any representation made by Sameer Financial in the settlement proceedings is found to be untrue, actions could be initiated against the firm.
In a separate order, Sebi settled with 18 entities a case related to alleged violation of takeover regulations in the matter of R&B Denims, after they paid Rs 2 lakh.