Sebi slaps Rs 31 lakh on 12 entities for disclosure lapses

Markets regulator Sebi today imposed fines totalling Rs 31 lakh on 12 entities for not making disclosure regarding change in shareholding.

The Securities and Exchange Board of India (Sebi) conducted a probe into the trading of shares of Rammaica India during July-September 2012 and found disclosure lapses.

"All the noticees has "neither made any disclosures to the stock exchange and to the company (Rammaica) in respect of buy/sell transactions in terms of PIT (Prohibition of Insider Trading) Regulations and SAST Substantial Acquisition of Shares and Takeovers) Regulations," Sebi Adjudicating Officer Rachna Anand said in an order.

However, Sebi said Tien Trading Pvt Ltd and Kyner Trading Pvt Ltd had made the disclosures after a delay of around three years and four-and-a-half years respectively.

Further, the remaining 10 entities had not made any disclosure to BSE and to Rammaica.

They were required to make the disclosures within two working days.

Accordingly, Sebi has levied fines totalling Rs 31 lakh on these 12 entities.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)