Sebi slaps Rs 6 lakh fine on Monnet Ispat & Energy for disclosure lapses
In its submission to Sebi, the company said the disclosures were included in its annual reports.
New Delhi: Markets regulator Sebi on Friday imposed a penalty of Rs 6 lakh on Monnet Ispat & Energy Ltd for disclosure lapses.
Sebi had conducted an probe regarding the company's compliance with provisions of LODR (Listing Obligations and Disclosure Requirements) norms.
The probe found that the company, in its quarterly financial statements for the period ended December 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016, March 31, 2016, failed to disclose to BSE the extent and nature of security created and maintained with respect to its listed non-convertible debentures (NCDs), as required under LODR Regulations.
In its submission to Sebi, the company said the disclosures were included in its annual reports.
Accordingly, the regulator imposed a penalty of Rs 6 lakh on Monnet Ispat & Energy.
In a separate order, Sebi slapped a fine of Rs 10 lakh on stock broking firm Shriram Insight Share Brokers Ltd for violation of stock broker norms.
Sebi had conducted an probe regarding the company's compliance with provisions of LODR (Listing Obligations and Disclosure Requirements) norms.
The probe found that the company, in its quarterly financial statements for the period ended December 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016, March 31, 2016, failed to disclose to BSE the extent and nature of security created and maintained with respect to its listed non-convertible debentures (NCDs), as required under LODR Regulations.
In its submission to Sebi, the company said the disclosures were included in its annual reports.
Accordingly, the regulator imposed a penalty of Rs 6 lakh on Monnet Ispat & Energy.
In a separate order, Sebi slapped a fine of Rs 10 lakh on stock broking firm Shriram Insight Share Brokers Ltd for violation of stock broker norms.