Customs dept slaps fine on IndiGo; airline to take appropriate legal measure, ET LegalWorld
Leading airline IndiGo on Wednesday said the customs department has imposed a fine of little over Rs 25 lakh on the company in relation to duty on jet fuel. The fine has been imposed by the Joint Commissioner (Customs), Office of the Commissioner of Customs, Ludhiana. In a regulatory filing, InterGlobe Aviation, the parent of […]
NFRA slaps Rs 8 lakh penalty on 2 auditors in DB Realty case, ET LegalWorld
The National Financial Reporting Authority (NFRA) has slapped penalties totalling Rs 8 lakh on two auditors and barred them for up to five years for professional misconduct in connection with the audit of DB Realty for FY16. The order came after NFRA received information from Sebi in October 2022, regarding misstatements in the financial statement […]
Sebi slaps Rs 6 lakh fine on EbixCash, Ebix for disclosure lapses, ET LegalWorld
Capital markets regulator Sebi on Thursday slapped a fine of Rs 6 lakh on EbixCash Ltd and its promoter entity Ebix Inc for flouting disclosure norms related to the company’s proposed initial public offering (IPO). EbixCash, a financial services company, had filed its draft red herring prospectus (DRHP) with the regulator in March 2022, but […]
Govt slaps fine on Sun Pharma officials over related party transactions, ET LegalWorld
Sun Pharmaceutical Industries Ltd on Thursday said the Ministry of Corporate Affairs has levied penalties on certain past and present directors and officials, including CMD Dilip Shanghvi, for non-disclosure and not obtaining approval of its board and shareholders for certain related party transactions. The company has received an order from the Regional Director, North Western […]
Sebi slaps Rs 26 cr demand notice on Reliance Big Entertainment in RHFL fund diversion case, ET LegalWorld
Capital markets regulator Sebi has asked Reliance Big Entertainment to pay Rs 26 crore in fines for failing to clear penalties imposed by the regulator in a case pertaining to illegal diversion of funds. The regulator also warned that assets, including bank accounts, of Reliance Big Entertainment Pvt Ltd (now known as Rbep Entertainment Pvt […]
CCPA slaps Rs 54.6 lakh fine on 48 coaching centres, issues new norms to curb misleading ads, ET LegalWorld
The Central Consumer Protection Authority (CCPA) has slapped a fine of Rs 54.6 lakh on 18 coaching institutes for misleading advertisements and issued comprehensive guidelines to address malpractices in the coaching sector. The ‘Guidelines for Prevention of Misleading Advertisement in the Coaching Sector, 2024,’ aims to safeguard students and the public from deceptive marketing practices […]
Sebi slaps Rs 50 lakh fine on Sunil Lulla for violating market norms in Eros International matter, ET LegalWorld
Capital markets regulator Sebi has slapped a fine of Rs 50 lakh on promoter and former MD of Eros International Media Sunil Arjan Lulla in a case related to the violation of regulatory norms. In June 2023, Sebi passed an interim order, wherein the regulator prohibited five entities, including Eros International and its Managing Director […]
Sebi slaps Rs 40 lakh fine on 8 entities for non-genuine trades, ET LegalWorld
Sebi on Monday slapped penalties totalling Rs 40 lakh on eight entities for indulging in non-genuine trades in illiquid stock options segment on the BSE. In eight separate orders, the regulator imposed a fine of Rs 5 lakh each on Yogesh Goyal HUF, Manju Devi Poddar, Navjeet Singh Malhotra, Narendra Kumar Maheshwari, Sandip Agarwal, CHP […]
Sebi slaps Rs 12 lakh fine on NSE Data And Analytics, ET LegalWorld
Markets regulator Sebi on Monday imposed a penalty of Rs 12 lakh on NSE Data And Analytics Ltd for its failure to segregate IT infrastructures and manpower between itself and its parent firm National Stock Exchange (NSE). It has been directed to pay the fine within 45 days, the Securities and Exchange Board of India […]
Sebi slaps Rs 8 lakh fine on Brightcom Group for violating regulatory norms, ET LegalWorld
Capital markets regulator Sebi on Monday slapped a penalty of Rs 8 lakh on Brightcom Group for failing to make timely disclosures to stock exchanges. The Securities and Exchange Board of India (Sebi) conducted an examination in the matter of Brightcom Group Ltd (BGL) for the alleged violation of provisions of LODR (Listing Obligations and […]