CHENNAI: The Securities Exchange Board of India (SEBI) has ordered Vedanta Limited, earlier known as Cairn India Limited, to pay `77.62 crore with 18% simple interest to Cairn UK Holdings within 45 days for delayed payment of dividend.
SEBI passed the order on Tuesday and will come into force with immediate effect. Failure to comply with the direction may lead to action by the SEBI on expiry of 45 days, it said. Cairn UK Holdings is now known as Capricorn UK Holdings Limited.
SEBI barred Vedanta’s Navin Agarwal, Tarun Jain, Thomas Albanese, GR Arun Kumar of the company to refrain from accessing the securities market and further prohibited from buying, selling and dealing in securities, directly or indirectly for a period of two months.
Similarly, Priya Agarwal, K Venkataramanan, Lalita D Gupte, Aman Mehta, Ravi Kant, Edward T Story of the company to refrain from accessing market for a month.
The matter pertains to Cairn UK Holdings complaining to the SEBI about alleged non-payment of dividend of Rs 340 crore by Cairn India.