Sebi ups penalty for non-compliance

Tighten the screws on listed companies, the Securities and Exchange Board of India (Sebi) on Thursday revised the penalty amount for non-compliance of listing regulations. From now on, any delay in bonus issue allotment would attract a penalty of Rs 1 crore on companies along with prosecution.

Sebi on Thursday has issued the circular asked stock exchanges to impose fines in case of non-compliance with certain provisions of Issue of Capital and Disclosure (ICDR) regulations.

Sebi said if non-compliance continues for more than 15 days, the company has to pay additional fine of Rs 0.01 per cent of paid up