However, the Securities and Exchange Board of India (Sebi) has disposed of the case against Anurag Dalmia as the vitiation against him could not be established. In seven separate orders dated October 25, Sebi has slapped fine worth Rs 50 lakh on GHCL Ltd for possible violations of the provisions of Securities Contracts and Sebi (Prohibition of Fraudulent and Unfair Trade Practices) and listing agreement.

Besides, Sebi has imposed a total penalty of Rs 56 lakh on eight entities: Altar Investment, Antarctica Investment, Anurag Trading Leasing and Investment Company, Archana Trading and Investment Company, Comosum Investment, Dalmia Housing Finance, Ilac Investment and Lovely Investment for alleged violation of fraudulent trading and takeover norms.

Also, the regulator slapped a fine of Rs 25 lakh on Sanjay Dalmia, Rs 10 lakh on Bhuwneshwar Mishra, Rs 9 lakh on Carissa Investment and Rs 7 lakh on Carissa Investment.

Sebi had conducted investigation into the trading in the scrip of GHCL Ltd for examining possible violations of Sebi Act, Prohibition of Fraudulent and Unfair Trade Practices and Substantial Acquisition of Shares and Takeovers Regulations way back in 2007.


Latest News  from Business News Desk