Nirav Modi scam: Sebi raps PNB for disclosure lapses in quarterly results

Regulator also cites delays in lender's filings with stock exchanges, but lets it off with a warning

The Securities and Exchange Board of India (Sebi) has rapped state-owned Punjab National Bank (PNB) over compliance with disclosure related norms. The beleaguered lender on Thursday informed investors, through a stock exchange notification, about a warning letter dated May 15 from Sebi regarding disclosures made in the developments pertaining to the Nirav Modi group and Gitanjali group fraud.

 
“There are delays of 1-6 days by PNB in making disclosures to the stock exchange pertaining to filing of the reports, complaints with the