 "Tata Motors Finance settles Sebi matter for ₹32 lakh over NCD issue")
Tata Motors Finance has settled a matter with the Securities and Exchange Board of India (Sebi) for Rs 32 lakh for alleged violations related to debt issuance.
What did Sebi flag in the debt issuances?
The case pertains to five issuances of Tier-II perpetual non-convertible debentures between 2019 and 2022, which were privately placed but later down-sold to over 200 investors within six months, making them deemed public issues.
What regulations did the regulator cite as being violated?
The market regulator noted that this was a violation of provisions under the Companies Act and debt securities regulations.
How was the matter settled?
Tata Motors Finance has settled the matter without admitting or denying the findings under the settlement regulations.
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