Sebi warns Dabur India over delay in disclosing USFDA warning letter

The market regulator has cautioned Dabur India over delayed disclosure of a USFDA warning letter, saying repeated violations could attract enforcement action under Sebi rules.

The Securities and Exchange Board of India (Sebi) on Friday issued a warning to Dabur India for delaying the disclosure of a warning letter issued by the US Food and Drug Administration (USFDA) in July, the company said in a stock exchange filing.

 

In its letter, the market regulator noted that the non-compliance was viewed seriously and advised the company’s board to be careful in the future to avoid lapses.

 

“Any repetition of such violation in future will be viewed seriously and appropriate enforcement action would be initiated in accordance with the provisions of the SEBI Act, 1992, the Rules, the Regulations or Circulars issued thereunder,” said the letter, which the company uploaded on the exchanges.

 

 

The letter added that the communication from Sebi should be placed before the board of directors at the upcoming board meeting and its comments should be forwarded to the regulator.

 

Dabur India said that the warning letter issued by Sebi had no impact on the company's financial operations and other activities.