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SCORES violation: Sebi imposes Rs 2L fine on firms

Press Trust of India  |  New Delhi 

Markets regulator Sebi today imposed a total penalty of Rs 2 lakh on two firms for failing to obtain authentication with its within the stipulated time.

In two separate orders, the (Sebi) imposed a penalty of Rs 1 lakh each on Shree Vindhya Papers Mills and Shri Anjaney Agro Foods.

It was alleged that both the companies had failed to obtain (System) validation within permitted time limit, even though they were listed on stock exchanges.

Through a circular in December 2014, Sebi had directed all the listed companies to obtain authentication and also redress the pending investor grievances within the stipulated time period.

With regard to Shree Vindhya Papers Mills, the regulator said it was obligatory on the part of the firm to obtain authentication within the stipulated time frame, however, it "failed to comply" with the same.

Similarly, in the order pertaining to Shri Anjaney Agro Foods, Sebi noted that the firm did not comply with the regulator's direction to obtain the authentication within the stipulated time limit.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 14 2018. 19:20 IST