Sebi Slaps Rs 10 lakh Fine On Amtek Auto For Disclosure Lapses
Markets regulator Sebi on Monday imposed Rs 10 lakh fine on Amtek Auto Ltd for various disclosure lapses in violation of the Listing Obligations and Disclosure Requirements (LODR) norms.
The firm failed to make prompt disclosure of its non-convertible debt securities (NCDs) which were issued and listed during 2008 to 2015, a Sebi order said.
Further, it failed to disclose the expected default or action that shall adversely affect timely payment of interest/principal in respect of NCDs and also did not disclose the delay/default in payment of interest or principal amount for more than three months from the due date.
A certificate signed by debenture trustee, that it has taken note of contents, was also not submitted by Amtek to exchanges.
'The listed entity shall promptly inform the stock exchange(s) of all information having bearing on the performance/operation of the listed entity, price sensitive information or any action that shall affect payment of interest or dividend of non-convertible preference shares or redemption of non-convertible debt securities or redeemable preference shares,' Sebi said.
Among other disclosure lapses, in violation of LODR norms, Amtek did not disclose the line items in its various financial results. For violating market norms, Sebi levied a fine of Rs 10 lakh on Amtek Auto.
(PTI)
