Brooks Laboratories Ltd reply to clarification sought by the exchange

| Updated on January 14, 2015 Published on January 14, 2015

The Exchange had sought clarification from Brooks Laboratories Ltd with respect to news article appearing in The Economic Times on January 13, 2015 titled "SEBI Imposes 11.8 Crs. Penalty on Brooks Labs, Five Executives"

Brooks Laboratories Ltd replied stating "As per SEBI website, the Adjudicating Officer has passed an Order dated January 12, 2015 against the Company and its directors/officials. As per the Order, a penalty of Rs 1 crore is imposed on the Company and Rs 10.8 crores on five other entities comprising of three directors and two former officials of the Company. We have yet not been served with the copy of the said Order either by post or email.

We may point out that the Order is culmination of the Ad-Interim Ex-Parte Order passed against the Company on December 28, 2011 and a subsequent Confirmatory Order in this regard on July 09, 2013, which are already in public domain.

We would like to submit that we do not agree with the findings of the Order and we would be contesting the same before Securities Appellate Tribunal in due course"

Source : BSE - >www.bseindia.com

Published on January 14, 2015
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