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Bharat Road Network Ltd - Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

| Updated on March 29, 2019 Published on March 29, 2019

Pursuant to and in terms of Regulation 30 of the Securities Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015, please be informed that Securities and Exchange Board of India (hereinafter SEBI) in the matter of alleged financial mismanagement and diversion of funds in Religare Finvest Ltd (hereinafter referred to as RFL), a subsidiary of Religare Enterprises Limited (hereinafter referred to as REL) for the benefit of promoters / group companies of REL, has passed an ad-interim ex-parte order on March 14, 2019 bearing reference no. WTM/GM/IVD/100/2018-19 against 25 entities which includes our Company i.e. Bharat Road Network Limited. SEBI has directed inter alia that Noticee Nos 3 to 25, which includes our Company i.e. Bharat Road Network Limited shall not, till completion of investigation and till further orders, dispose of or alienate any of their assets or divert any funds, except for meeting expenses of day-to-day business operations, without the prior permission of SEBI.

The Company is considering filing representations and replies, before SEBI within 21 days from the date of receipt of the Order i.e. 19.03.2019 and avail an opportunity of personal hearing. The financial and/or and any other implications arising out of or in connection with the said Order cannot be determined as on date hereof.

Pdf Link: Bharat Road Network Ltd - Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

Source : BSE - www.bseindia.com

Published on March 29, 2019
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