Markets regulator SEBI on Friday imposed a penalty of Rs.15 lakh on United Breweries (Holdings) Ltd for non-disclosure of certain share pledge transactions.
The Securities and Exchange Board of India (SEBI) fined United Breweries (Holdings) for violation of provisions of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 or SAST Regulations.
According to SEBI, the company had failed to make the disclosures regarding the "invocation of pledge" that took place on February 15, 2012 and March 24 and 26, 2012 and also failed to make disclosures regarding the "Creation of pledges" of shares that took place on March 26, 2012.
The regulator found United Breweries (Holdings) not disclosing pledge transactions in the scrip of United Sprits Ltd.
