Markets watchdog Sebi today imposed Rs 2 lakh fine on Analysis Securities for disclosure lapses in the matter of Auto Pins (India).
It had conducted an examination into the shares of Auto Pins from March 20 to March 31, 2015 and found that the shareholding of Analysis Securities in the company reduced from 25.06 per cent to zero.
Following the change in shareholding, Analysis Securities was required to make relevant disclosures to stock exchange as well as Auto Pins under PIT (Prohibition of Insider Trading) norms and SAST (Substantial Acquisition of Shares and Takeovers) Regulations, Sebi said in an order.
The company failed to make requisite disclosure under PIT Regulations and also made delayed disclosure in terms of SAST Regulations, Sebi said while imposing a fine of Rs 2 lakh on the firm.
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