Former Nesco Director Settles Case

New Delhi: Manu M Parpia, a former independent director of Nesco Ltd, on Wednesday settled with Sebi a case on alleged violation of disclosure and other regulatory norms after paying Rs 21.4 lakh towards settlement charges.The order came after the applicant (Manu M Parpia) pro-posed to settle the pending proceedings through a settlement order without “admitting or deny-ing the findings of fact and conclusions of law”.

“In exercise of the powers...of the settlement regulations, it is hereby ordered that the instant proceedings initiated against the applicant vide show cause notice dated May 28, 2024, are disposed of,” Sebi’s Chief General Manager G Ramar said in the settlement order.