SME Times News Bureau | 21 Apr, 2018
Securities market regulator Sebi on Friday imposed a fine of more than
Rs 1 crore on Suzlon Energy for violation of Securities Contracts
(Regulation) Act (SCRA).
According to the adjudication order, the
company failed to disclose price sensitive information as required
under the code of corporate disclosure practices for prevention of
insider trading.
"I find that the investigation did not bring out
the disproportionate gain or unfair advantages to the noticee and loss
caused to investors as a result of non-disclosure of truncation of
order," Sebi order read.
"They failed to make the disclosure on more than one occasion, hence it can be said, it is repetitive in nature."