Sebi penalises Yashovardhan Birla, 6 others in Zenith Birla GDR case

It is the level and curvature of the yield curve that contains info on market expectations on economic prospects and inflation, says paper authored by Deputy Governor M D Patra and others

File photo: PTI

File photo: PTI

Press Trust of India New Delhi
Capital markets regulator Sebi on Thursday imposed a penalty totalling Rs 10.80 crore on seven entities, including Zenith Steel Pipes & Industries Ltd (erstwhile Zenith Birla (India) Ltd and Yash Birla), in a case pertaining to alleged irregularities in the global depository receipts issued by Zenith Birla.

In its order, the regulator levied a fine of Rs 10 crore on Zenith Birla India Ltd (ZBIL), Rs 20 lakh each on PVR Murthy and Arun Panchariya, and Rs 10 lakh each on Yashovardhan Birla, MS Arora, AP Kurias and Mukesh Chauradiya, and asked them to pay the fine within 45 days.

These four persons -- Murthy, Birla, Arora and Kurias -- were on the board of the directors of ZBIL during

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Jun 16 2022 | 9:24 PM IST

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