UPL, promoter Jaidev Shroff pay Rs 20.2 cr to settle case with Sebi

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"In terms of the settlement regulations, it is hereby ordered that the instant proceeding initiated against the applicants, vide show cause notice dated February 28, 2024, is disposed of," Sebi's Chief General Manager Anitha Anoop said in the order on October 30.

Agrochemical company UPL (formerly United Phosphorus Ltd) and its promoter and Chairperson Jaidev Rajnikant Shroff have settled a case related to an alleged violation of regulatory norms with capital markets regulator Sebi after paying Rs 20.2 crore towards settlement charges.

The settlement order came after the applicants -- UPL and Jaidev Rajnikant Shroff -- proposed to settle the instant proceeding through a settlement order "without admitting or denying the findings of fact and conclusions of law".

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Category: BusinessFinance

Markets: IndiaMauritiusSingapore

Topics: Jaidev Shroff UPL Sebi case Sebi Sebi norms

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-02 @ 23:05:48 (2 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 567 words

Reading Time: 4 minutes read

Sentences: 19 lines

Sentence Length: 30 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23371057

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