Saturday, 28 October 2023

Sharepro Services case: Sebi slaps Rs 33 cr fine on 13 individuals

Capital markets regulator Sebi has slapped fines totalling Rs 33 crore on 13 individuals, including senior officials of Sharepro Services (I) Pvt Ltd for flouting regulatory norms. The regulator levied fines in the range of Rs 1 lakh to Rs 15 crore on 13 individuals, including Rs 15.08 crore on Indira Karkera (Vice President and client manager for a number of client companies of Sharepro), and Rs 5.16 crore on Govind Raj Rao (Managing Director of Sharepro). Apart from senior officials, Sebi also penalised Balram Mukherjee, Pradeep Rathod, Shrikant Bhalakia, Anil Jathan, Chetan Shah, Sujitkumar Amarnath Gupta, Bhavani Jathan, Anand S Bhalakia, Dayanand Jathan, Mohit Karkera and Rajesh Bhagat. These individuals are referred to as noticees. In its 200-page order, Sebi found that securities at least worth Rs 60.45 crore (on the basis of the value of respective scrip in October 2016) and dividends worth Rs 1.41 crore of genuine shareholders were misappropriated in the fraud. Further, ..

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Goldprice dips Rs 10 to Rs 62,720, silver falls Rs 100 to Rs 74,900

The price of 22-carat gold also fell Rs 10 with the yellow metal selling at Rs 57,490 from Markets https://ift.tt/rpZGNwM