Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of over Rs1 crore on Educomp Solutions Ltd (ESL) s two promoters and executive directors (EDs) for adopting a fraudulent scheme to hide the company s true financial position from shareholders by treating its subsidiary Edu Smart Services Pvt Ltd (ESSPL) as its client.
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Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of over Rs1 crore on Educomp Solutions Ltd (ESL) s two promoters and executive directors (EDs) for adopting a fraudulent scheme to hide the company s true financial position from shareholders by treating its subsidiary Edu Smart Services Pvt Ltd (ESSPL) as its client.
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