Sebi imposes fine of Rs 12 lakh on Roselabs Industries

Sebi on Monday imposed a penalty of Rs 12 lakh on Roselabs Industries Ltd for not redressing investor complaints within a stipulated time and not submitting an action taken report to the market regulator. “Hereby impose a penalty of Rs 12 lakh on the noticee (Roselabs Industries) for not redressing investor grievances within the time specified and not submitting Action Taken Report within the time specified in the specified format,” Sebi said in its order today. Sebi had alleged that 24 grievances were pending against Roselabs Industries from as far back as 1999.