New Delhi, Oct 29 (PTI) Sebi has settled with fourentities a case related to alleged violations of various normswith regard to dealing in the shares of Foseco India afterthey together paid over Rs 6.82 lakh towards settlement.
These entities are Foseco India, Foseco (UK), VesuviusHolding (formerly known as Cookson Group PLC), and FosecoOverseas.
The market regulator had initiated adjudicationproceedings against the four entities for allegedly violatingthe Securities and Contracts (Regulation) Act and LODR(Listing Obligations and Disclosure Requirements) Regulationwith respect to dealing in the shares of Foseco India.
According to a Sebi order dated October 27, the entitieshad filed an application to settle the adjudicationproceedings.
The settlement terms proposed by the four entities wereconsidered by Sebi's High Powered Advisory Committee (HPAC),which recommended the matter for settlement on payment of Rs6,82,795. This was approved by the panel of whole time membersof the regulator.
Earlier this month, the entities paid the settlementamount of Rs 6,82,795 and then the Securities and ExchangeBoard of India (Sebi) disposed of the adjudicationproceedings. PTI VRNBAL.
This is unedited, unformatted feed from the Press Trust of India wire.
