SBICAP Trustee Settles Sebi Debenture Trustee Norms Case
SBICAP Trustee Company resolved a dispute with Sebi concerning debenture trustee norms violations by paying Rs 23.45 lakh. The settlement, confirmed by Sebi, halts adjudication but may be reopened if false representations are discovered. The case involved JM Financial Asset Reconstruction Company Ltd's debenture issuances.
- Country:
- India
SBICAP Trustee Company has reached a settlement with the Securities and Exchange Board of India (Sebi) over alleged breaches of debenture trustee norms, paying Rs 23.45 lakh to resolve the issue.
The case, which was based on two non-convertible debenture issues by JM Financial Asset Reconstruction Company Ltd, noticed a failure in creating necessary securities encumbrance through the depository system.
Sebi noted that SBICAP Trustee did not exercise due diligence as per market requirements. The regulator retains the right to reinvestigate if any false claims were made during the settlement process.
ALSO READ
-
SEBI Extends Agricultural Commodities Trading Suspension Until 2027
-
SEBI Insists on Ensuring Fair Play in Par Drugs and Chemicals Business Sale
-
Sebi Chairman Sounds Alarm on Fake Apps: A New Investor Threat
-
Sebi Postpones Mutual Funds' Intraday Borrowing Framework
-
SEBI Expands Audit Eligibility to Cost Accountants
Google News