Sebi slaps Rs 15 lakh fine on five cos for non-compliance with its directions

Sebi has slapped a total fine of Rs 15 lakh on five companies for non-submission of audit reports regarding dividend payments and transfer of their securities by Sharepro Services.

Sharepro Services operated as Registrar and Transfer agent (RTA) for the five companies -- Naisargik Agritech, Platinum Corporation, Sheetal Bio-Agro Tech, Anand Credit and Well Pack Papers.

In March 2016, Sebi directed the firms to conduct a thorough audit of Sharepro regarding dividends paid and transfer of securities.

Besides, the companies were directed to switch over their activities related to a RTA "either in-house or through another RTA registered with the markets regulator".

After finding that the companies have not complied with the directions, Sebi has fined them Rs 3 lakh each.

In five separate but similarly-worded orders, Sebi said the companies