The officials are chairman and managing director Ranjit Dhuru, executive directors Nitin Shukla and Mukul Dalal and compliance officer C G Deshmukh.
Based on a Sebi probe, it was alleged that the entities had failed to make required disclosure to the bourses regarding the default in redemption of foreign currency convertible bonds (FCCBs) on slated and revised maturity dates, which was price sensitive information.
According to the Sebi order dated October 27, the slated maturity date was June 25, 2010 and the revised maturity date was December 21, 2012.
The regulator also noted that as per the admission of Aftek Ltd, the disclosure has been belatedly made to the stock exchanges on August 8, 2017, after delay of more than four and six years from the dates of default.
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With regard to the compliance officer, Sebi said that he has failed to the extent to oversee and co-ordinate to ensure that Aftek Ltd complies with the requirement of making corporate announcement or disclosure of price sensitive information to the stock exchanges.
For the violations, the Securities and Exchange Board of India (Sebi) has levied a fine of Rs 1.5 lakh each on the firm and its four officials.
In a separate order, the regulator has imposed a penalty of Rs 3 lakh on one Parind S Parekh for violating disclosure norms with regard to his acquisition and sale of shares of Nivyah Infrastructure & Telecom Services Ltd.
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