UPL, promoter Shroff settle Sebi case

Quick Summary:

United Phosphorus (UPL) and its main promoter Jaidev Shroff settled with Sebi by paying over Rs 20 crore for routing funds to artificially boost UPL's stock price in 2006.

The settlement includes disgorgement of unfair gains, interest, and penalty, hence concluding the adjudication process.

This entity invested in Matterhorn Ventures, a sub-account of Matterhorn Advisory Singapore, which was a Sebi registered FII.

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Article Details

Author / Journalist: TNN

Category: EconomyBusiness

Markets: IndiaMauritiusSingapore

Topics: Stock price manipulation Fund routing Sebi UPL Jaidev Shroff

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 04:35:13 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 459 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 23355285

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