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Sebi fines Bampsl Securities Rs 5 lakh for disclosure lapses

Press Trust of India  |  New Delhi 

Markets regulator Sebi imposed a fine of Rs 5 lakh on for violating disclosure norms regarding the change in shareholding of

The (Sebi) conducted a probe regarding the trading in the scrip of Kay Power from June to August, 2014.

The probe found that Bampsl made three transactions which resulted in changing its shareholding in the company.

However, on all occasions, Bampsl failed to disclose the change in shareholding to the company and on two occasions it made disclosures to the BSE but with wrong information and thereby violated PIT (Prohibition of Insider Trading) and SAST (Substantial Acquisition of Shares and Takeovers norms) regulations, Sebi said.

Under PIT and SAST, the entity is required to make disclosure to both company and the exchange where the scrips of company are listed.

The regulator said the entity "by not making disclosures and making disclosures having wrong information violated the provisions of PIT and SAST Regulations."

Accordingly, a fine of Rs 5 lakh was imposed on

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

First Published: Thu, December 06 2018. 23:00 IST
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