Sebi imposes Rs 18 lakh fine on Linaks Microelectronics

The firm and the two promoters failed to make relevant disclosures as required under the PIT Regulations and Substantial Acquisition of Shares and Takeovers (SAST) Regulations to the BSE.

Sebi has slapped Linaks Microelectronics and its two promoters — Anil Kumar Singh and Meena Singh — with a total fine of Rs 18 lakh for not complying with shareholding disclosure norms.
 
According to a Sebi order, the firm and the two promoters failed to make relevant disclosures as required under the Prohibition of Insider Trading (PIT) Regulations and Substantial Acquisition of Shares and Takeovers (SAST) Regulations to the BSE.
 
The regulator also noted that Linaks Microelectronics was in receipt of disclosures from the two promoters, but violated PIT Regulations as it did not disclose them to the BSE.
 
For the violations, Anil Kumar Singh and Meena Singh have to cough up Rs 9 lakh and Rs 6 lakh, respectively, while Linaks Microelectronics has to pay Rs 3 lakh.
 
Source: PTI

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