Warden Construction settles case with Sebi, pays Rs 6.8 lakh

Warden Construction and Finance Ltd Monday settled proceedings with regulator Sebi in connection with alleged failure to obtain SCORES authentication on payment of Rs 6.8 lakh towards settlement charges.

SCORES is Sebi's online complaint redressal system for investors.

The regulator agreed to settle adjudication proceedings in the case, pertaining to alleged violation of circulars which mandated the firm to obtain SCORES authentication within a stipulated time after it was approached by the company with a plea under the settlement regulations.

Under a settlement, an entity is allowed to settle charges by paying a penalty without admission or denial of guilt.

In a settlement order, Securities and Exchange Board of India (Sebi) said, it is hereby ordered to "dispose of" the adjudication proceedings initiated against Warden Construction and Finance after the payment of Rs 6.8 lakh as settlement charges.

It further said enforcement actions, including restoring or initiating the proceedings, could be initiated if any representation made by the firm is found to be untrue.