SBICap settles case with Sebi on payment of Rs 14 lakh

SBICap Trustee Company has settled case of alleged violations of disclosure norms with capital markets regulator Sebi on payment of Rs 14 lakh as settlement fee.
It was alleged that SBICap violated Sebi's (Substantial Acquisition of Shares and Takeovers) Regulations by making delayed disclosure in the matter of Sindhu Trade Links.
After finding that SBICap violated norms, Sebi had initiated adjudication proceedings in December 2015. While further proceedings were underway, SBICap proposed to settle the proceedings through the settlement mechanism upon payment of Rs 14 lakh as settlement fee.
Thereafter, Sebi's High Powered Advisory Committee (HPAC), recommended that the matter may be settled on the payment of the amount offered. This was also approved by the panel of whole-time members of Sebi, following which SBICap remitted the amount.

In a settlement order dated January 4, Securities and Exchange Board of India (Sebi) has decided to dispose of the adjudication proceedings initiated against SBICap.
Sebi said that enforcement actions, including commencing or reopening of the proceedings, could be initiated if any representation made by SBICap is found to be untrue.
In a separate order, KDDL Ltd has settled case of alleged violations of disclosure norms with Sebi on payment of Rs 2,31,750 as settlement fee. It was alleged that KDDL had made delayed disclosure of 24 days under Sebi's SAST regulation.