Comments
SEBI has passed an order against the past directors of Kolkata-based Sun-Plant Business and Sun-Plant Forgings — Girija Shankar Kumar, and Awdhesh Kumar Singh, and Ameet Singh, respectively, for issuing redeemable preference shares to more than 50 investors without complying with public issue norms during their tenure with the companies.
While the first company collected ₹4.17 crore, the second collected ₹17.51 crore through such shares. The securities market regulator has ordered the directors to refund the money to investors with 15 per cent interest payable and has barred these individuals from accessing the securities market with immediate effect till four years after the full refunds are made.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.