34 Entities Settle Case With Sebi

As many as 34 entities have settled proceedings related to alleged violations of 'takeover' norms in the matter of Shalimar Paints Ltd with markets regulator Sebi on payment of Rs 3.04 lakh.

This came after an application was filed by Urvi Jindal with Sebi proposing to settle the enforcement proceedings that may be initiated against her for the alleged violations through a settlement order and accordingly, the settlement amount was remitted. “The specified proceedings, in respect of which the summary settlement notices were issued, are hereby settled in respect of the applicants (Urvi Jindal along with the Persons Acting in Concert),” Sebi said in a settlement order passed on Thursday.