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Sebi fines Ramsarup Industries chairman Rs 5 lakh

Press Trust of India  |  New Delhi 

Sebi Thursday fined Ashish Jhunjhunwala, of Kolkata-based 5 lakh, for failing to comply with its earlier directions.

The regulator in August 2015 had asked chairman, to disgorge amount of over Rs 98 lakh along with 10 per cent interest in a case related to insider trading violations.

Following the order, had approached wherein the tribunal disposed of his appeal in 2017.

With the disposal of the appeal, August 2015 order attained finality and the was bound to comply with the order, (Sebi) said.

In a fresh order passed on Thursday, Sebi said "Noticee (Jhunjhunwala) has completely disregarded the directions of Sebi order August 2015 and... attracts penalty".

Accordingly a fine of Rs 5 lakh was imposed on him.

In a two separate orders, Sebi imposed a fine of Rs 5 lakh on Prakash Varma and Rs 3 lakh on for violating Stock Brokers norms.

As per the Sebi, Prakash Varma is affiliated with

The entities violated the stock brokers norms by granting trading terminal in the name of one and allowed other employees to execute trades in place of her in derivatives segment without mandated certification.

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

First Published: Thu, November 29 2018. 20:55 IST