Sebi norms do not permit wilful defaulters to hold board positions at listed companies
Thus far in 2016, the stock underperformed the market by falling 24% as compared to 2% decline in Sensex.
Ricoh India is locked in lower circuit of 5% at Rs 272, falling 52% from Rs 569 since March 18, on the BSE.
Last week, Heineken International consolidated its stake in UBL by picking up over 21 lakh shares of the firm for Rs 179 crore