Sebi fines 28 entities for failing to make acquisition of shares public

Markets regulator Sebi on Tuesday slapped a total penalty of Rs 11 crore on 28 entities for failing to make public announcement related to the acquisition of shares of Murli Industries and not complying with directions passed by it.

The fine amount has to be paid by the entities jointly and severally.

In July 2015, Sebi had passed an order against the entities wherein it was established that they were acting in concert while acquiring shares in Murli Industries and were required to make public announcement within stipulated time period under the Takeover Regulations.

By doing so, the entities violated