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Three entities settle disclosure lapse cases with Sebi

Press Trust of India  |  New Delhi 

Capital markets regulator today settled cases of disclosure lapses related to three separate entities after they paid more than Rs 6 lakh towards settlement charges.

According to three separate orders, the entities are Gagan Gases, and Maheshwary is a promoter of

The entities had filed applications to settle the "proposed adjudication proceedings" for the delayed compliance of disclosure norms as required under SAST (Substantial Acquisition of Shares and Takeover) Regulations and PIT (Prohibition of Insider Trading) Regulations.

The settlement terms proposed by them were considered by the regulator's (HPAC). The committee recommended the cases for settlement on payment of Rs 2,00,658 by Gagan Gases, Rs 2,23,482 by Maheshwary and Rs 2 lakh by Mittal.

The recommendation of HPAC was also accepted by the panel of Whole Time Members of

Last month, the three entities paid their respective settlement amounts following which the (Sebi) settled the proposed adjudication proceedings.

As per the orders, if any representation made by the entities in the present settlement proceedings is subsequently discovered to be untrue, Sebi would take enforcement actions against them.

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

First Published: Tue, April 17 2018. 18:25 IST
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