Vedanta Ltd on Friday stated it’s evaluating a SEBI order imposing a advantageous of Rs 5.25 crore on its erstwhile unit, Cairn India for allegedly making a deceptive public announcement of buyback of shares on January 14, 2014.
SEBI earlier this week additionally penalised P Elango, who was the then chief government officer and director of Cairn, and two different administrators, Aman Mehta and Neerja Sharma.
They’ve been requested to pay Rs 15 lakh every.
“The corporate has obtained an adjudication order dated Might 19, 2021, from SEBI imposing a penalty… on erstwhile Cairn India Restricted (which acquired merged with Vedanta Restricted in 2017) and different noticees,” Vedanta stated in a regulatory submitting.
“The corporate is evaluating the order and shall take acceptable motion as could also be obligatory on this regard.
(Solely the headline and film of this report might have been reworked by the Enterprise Normal employees; the remainder of the content material is auto-generated from a syndicated feed.)
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