New Delhi: Capital market regulator SEBI has fined IL&FS worth one million. SEBI has ordered the company to pay the fine within 45 days. SEBI has imposed this penalty on the company for hiding sensitive information from BSE. The capital markets regulator in its investigation found that IL&FS did not disclose to BSE the fundraising of Rs 4,500 crore from the market through asset divestment and rights issue.
NCLAT bans McDonald-Bakshi's deal; read to know more
The company had decided to raise funds from the market to repay a debt of Rs 30,000 crore in a board meeting held in July last year. At the same time, IL&FS has stated its stand that during the meeting held in July, the talks on this plan were not completed, so it did not inform BSE about this. The company said that a decision in this regard was taken at a meeting held on August 29 last year and the BSE was informed on the same day.
Onion prices extracted common man's tears, know the price in retail market
However, SEBI in its investigation found that the company had informed the rating agency about its decision on 23 July 2018. But this information was deliberately hidden from BSE. Along with this, SEBI has imposed a fine of Rs 35 lakh on RT Export Limited and its shareholder Neelkanth Realtors. This penalty is imposed for taking decisions without the advice of the partners.
Saudi drone attack may increase difficulties for this aircraft company