The Securities and Exchange Board of India (Sebi) on Friday slapped a fine of Rs 2 lakh on Sigrun Holdings Managing Director C R Rajesh Nair for not complying with disclosure norms.
After taking into consideration all the facts and circumstances of the case, Sebi imposed “a penalty of Rs 2 lakh. On the noticee (Nair) which will be commensurate with the violations committed by him.”
The case relates to a matter way back in 2009-10.
A probe conducted by Sebi had found that Nair sold 94,000 shares of Sigrun Holdings (earlier known as Gee Kay Finance and Leasing Company) at four instances during the period between November 2009 and June 2010.
