Sebi imposes Rs 5 lakh fine on Emed.Com Technologies

Markets regulator Sebi has slapped a fine of Rs 5 lakh on Emed.Com Technologies for failing to make yearly shareholding disclosures within the time line.
The company had failed to make the disclosures within the prescribed time frame of 11 years -- from 2001 to 2011.
As per the norms, Emed.Com Technologies was required to make yearly disclosure to the stock exchange, within 30 days from financial year ending March 31, if the holdings of the promoters or persons having control over the firm change.
However, it failed to comply with the Sebi (Substantial Acquisition of Shares and Takeovers) regulations.

Accordingly, Securities and Exchange Board of India (Sebi) has imposed "a penalty of Rs 5 lakh on the Noticee viz, Emed.Com Technologies Ltd, which will be commensurate with the violation committed by it."
This norm mandates the requirement of making timely disclosures to the stock exchange so that the investing public is not deprived of the vital information, Sebi noted.
These disclosures are intended towards investor protection and it is through these disclosures that investors are made aware of the changes, it added.