Markets regulator Sebi has settled cases with three entities related to alleged disclosure lapses after they paid over Rs 15 lakh towards settlement charges.
According to three separate Sebi orders, Aeonian Investments Company has paid Rs 9.94 lakh, while Bhavesh T Bhanushali and ABC Holding have dished out Rs 3.74 lakh and Rs 2 lakh, respectively.
Aeonian had made delayed disclosures with regard to shareholding in the matter of Sunshield Chemicals and violated PIT (Prohibition of Insider Trading) Regulations.
Bhanushali and ABC had not complied with disclosure norms as required under SAST (Substantial Acquisition of Shares and Takeovers). Bhanushali's violation pertains to the matter of Women's Next Loungeries while that of ABC refers to SEBC Sugar matter.
The regulator's High Powered Advisory Committee (HPAC) considered the settlement terms proposed by the three entities and recommended the cases for settlement upon payment of Rs 9.94 by Aeonian, Rs 3.74 by Bhanushali and Rs 2 lakh by ABC.
Earlier this month, the three entities paid the respective settlement amounts, following which the Securities and Exchange Board of India (Sebi) disposed of the cases.
The regulator, however, said if any representation made by Aeonian, Bhanushali and ABC in the settlement proceedings is subsequently discovered to be untrue, it can take actions against them.
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