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The Central Bank of India has moved the Securities Appellate Tribunal on Tuesday contesting the ₹3-lakh penalty imposed on it by SEBI.
In a notice to the exchanges on Wednesday, the bank said SEBI had fined Central Bank on July 30 following an inspection of the bank’s books, accounts and other documents pertaining to debenture trustee activity of the bank between September 2009 and August 31, 2015.
The probe found that Central Bank had not entered into written agreements with the issuer companies in respect of Britannia Industries and Deepak Fertilizers & Chemicals Corporation, which is in violation of the debenture trustee regulation, SEBI had said in its order.
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