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Sebi fines 28 entities for failing to make acquisition of shares public

The fine amount has to be paid by the entities jointly and severally

Sebi
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It was noted that the entities failed to comply with the directions of the regulator which required them to make the public announcement

Press Trust of India New Delhi
Markets regulator Sebi on Tuesday slapped a total penalty of Rs 11 crore on 28 entities for failing to make public announcement related to the acquisition of shares of Murli Industries and not complying with directions passed by it.

The fine amount has to be paid by the entities jointly and severally.

In July 2015, Sebi had passed an order against the entities wherein it was established that they were acting in concert while acquiring shares in Murli Industries and were required to make public announcement within stipulated time period under the Takeover Regulations.

By doing so, the entities violated