106th Day Of Lockdown

Maharashtra2171211185589250 Tamil Nadu118594711161636 Delhi102831742173165 Gujarat37636267441978 Uttar Pradesh2996819627313 Telangana2761216287313 Karnataka2681511100417 West Bengal2383715790804 Rajasthan2140416575472 Andhra Pradesh211979745252 Haryana1799913645279 Madhya Pradesh1562711768622 Bihar12525933898 Assam12523833016 Odisha10097670354 Jammu and Kashmir89315399143 Punjab67494554175 Kerala5895345228 Chhatisgarh3415272814 Uttarakhand3230262143 Jharkhand3018210422 Goa190311568 Tripura171612481 Manipur14307710 Himachal Pradesh107876410 Puducherry104351714 Nagaland6443030 Chandigarh4924017 Arunachal Pradesh270922 Mizoram1971390 Sikkim125650 Meghalaya94432
Business Market 29 Mar 2019 Tantallon Fund pays ...

Tantallon Fund pays Rs 55 lakh to settle case with Sebi over FII norms violation

PTI
Published Mar 29, 2019, 3:08 pm IST
Updated Mar 29, 2019, 3:08 pm IST
Under the settlement, an entity is allowed to settle charges by paying a penalty without admission or denial of guilt.
Thereafter, Sebi's High Powered Advisory Committee recommended the case for settlement on the payment of Rs 55.02 lakh which was subsequently approved by the regulator's panel of whole-time members.
 Thereafter, Sebi's High Powered Advisory Committee recommended the case for settlement on the payment of Rs 55.02 lakh which was subsequently approved by the regulator's panel of whole-time members.

New Delhi: Tantallon Fund has settled a probe by markets regulator Sebi into alleged violation of foreign institutional investors norms by paying over Rs 55 lakh towards settlement charges.

The regulator had initiated adjudicating proceedings in December 2017 against the firm to adjudge the alleged violation of norms pertaining to foreign institutional investors (FII).

 

While the proceedings were initiated, the firm in September 2018 filed an application under the settlement mechanism and requested Sebi to keep the adjudication proceedings in abeyance.

Under the settlement, an entity is allowed to settle charges by paying a penalty without admission or denial of guilt.

The company in its meeting with the regulator's internal committee in November 2018 proposed to pay settlement charges.

Thereafter, Sebi's High Powered Advisory Committee recommended the case for settlement on the payment of Rs 55.02 lakh which was subsequently approved by the regulator's panel of whole-time members.

However, the committee found that the settlement amount was remitted after the expiry of 30 calendar days from the receipt of notice of demand.

Hence, an additional Rs 33,467 was charged from the firm as simple interest amount. Therefore, a total amount of Rs 55.35 lakh has been submitted by the firm towards settlement charges.

Accordingly, the Securities and Exchange Board of India (Sebi) in its order on Thursday disposed of the adjudicating proceedings initiated against The Tantallon Fund. It further said enforcement actions, including commencing or reopening of the proceedings, could be initiated if any representation made by them is found to be untrue.

...
Location: India, Delhi, New Delhi




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT