SEBI issues settlement order to Utkarsh Small Finance Bank
The Securities and Exchange Board of India (SEBI) has issued a settlement order to Utkarsh Small Finance Bank upon the payment of Rs 1.24 crore by the lender.
Vedanta Ltd is evaluating a SEBI order imposing a fine of Rs 5.25 crore on Cairn India, the company said on Friday.
The erstwhile unit was allegedly making a misleading public announcement of buyback of shares on January 14, 2014.
SEBI earlier this week also penalised P Elango, who was the then chief executive officer and director of Cairn, and two other directors, Aman Mehta and Neerja Sharma.
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They have been asked to pay Rs 15 lakh each.
“The company has received an adjudication order dated May 19, 2021, from SEBI imposing a penalty… on erstwhile Cairn India Limited (which got merged with Vedanta Limited in 2017) and other noticees,” Vedanta said in a regulatory filing.
“The company is evaluating the order and shall take appropriate action as may be necessary in this regard.”
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