Kiri Ind set­tles case with SEBI

Is­sue per­tains to vi­o­la­tion of dis­clo­sure norms

The Hindu Business Line - - MARKET WATCH -

Chem­i­cals firm Kiri In­dus­tries and its two pro­mot­ers have set­tled with SEBI a case re­lated to al­leged dis­clo­sure lapses on pay­ment of nearly ₹11 lakh.

The pro­mot­ers are Man­ish Kiri and Anu­pama M Kiri.

The reg­u­la­tor had ini­ti­ated ad­ju­di­ca­tion pro­ceed­ings against the three en­ti­ties for al­legedly vi­o­lat­ing dis­clo­sure norms un­der its reg­u­la­tions, in­clud­ing PIT and SAST.

The set­tle­ment terms as pro­posed by the three en­ti­ties were con­sid­ered by the reg­u­la­tor’s High Pow­ered Ad­vi­sory Com­mit­tee, which rec­om­mended the case for set­tle­ment on pay­ment of ₹5.90 lakh by Anu­pama M Kiri, ₹2 lakh by Man­ish Kiri and ₹2.89 lakh by Kiri In­dus­tries.

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