The Securities and Exchange Board of India (Sebi) has served a new show cause notice (SCN) to Tata Motors and its top management in an 18-year-old case involving erstwhile Tata Finance (TFL) on fraudulent and unfair trade practices affecting four companies (including Infosys).
In June 2018, the Securities Appellate Tribunal (SAT) had rapped Sebi for letting off TFL even after investigation clearly showed substantial breach of securities law, via false declarations in the draft document of a 2001 rights issue of convertible preference shares. “The notice has been ...
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