Valiant Organics settles case with Sebi

New Delhi: Valiant Organics Ltd settled with capital markets regulator Sebi a case concerning flouting of alleged disclosure rules by paying Rs10 lakh as the settlement amount.

This came after the company filed a settlement application with Sebi proposing to settle the enforcement proceedings that may be initiated against it for the alleged lapse of non-compliance of Listing Obligations and Disclosure Requirements (LODR) Regulations by “neither admitting nor denying” any finding. “It is hereby ordered that the proceedings that may be initiated for the violations... are settled qua the applicant (Valiant Organics),” Sebi said in a settlement order passed on Monday.