Malabar Institute of Medical Sciences Ltd has settled a case of alleged violation of market norms with markets regulator Sebi after paying around Rs 37 lakh towards settlement charges.
The regulator noted that Malabar Institute of Medical Sciences (MIMS) had made allotments by way of private placements to 376 allottees and 128 allottees in January 2003 and May 2002 respectively, "deemed to be pursuant to a public offer and MIMS was required to comply with various statutory/regulatory requirements."
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