The Securities and Exchange Board of India (SEBI) has imposed a total fine of Rs1.05 crore on Indiabulls Ventures Ltd (now known as Dhani Services), Pia Johnson -its former non-executive director, Mehul Johnson - her husband and Lalit Sharma -its company secretary for violating insider trading norms.
Sebi Imposes Fine On Indiabulls Venture Officials After Cairn India - सेबी सख्त: केयर्न इंडिया के बाद अब इंडियाबुल्स वेंचर अधिकारियों पर लगाया 1 05 करोड़ का जुर्माना amarujala.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from amarujala.com Daily Mail and Mail on Sunday newspapers.
The firm is currently known as Dhani Services. The former non-executive director, Pia Johnson, and her husband, Mehul Johnson, violated the Prohibition of Insider Trading (PIT) norms by trading in firm s scrip while in possession of unpublished price-sensitive information (UPSI) when the trading window ought to have been closed. Mehul was also an employee of Indiabulls Real Estate Ltd (IREL) and has association with Indibulls Group companies. Pia and Mehul made collective gains of Rs 69.09 lakh. The investigation period is January-November 2017. For violation of insider trading norms, Pia and Mehul Johnson are facing a fine of Rs 25 lakh each. In March 2017, the company told the NSE that Indiabulls Distribution Services Ltd, a wholly-owned subsidiary of Indiabulls Venture, had signed a definitive agreement to sell its 100 per cent stake in India Land and Properties Ltd, at a consideration of Rs 685 crore, to Indiabulls Infrastructure Ltd, a wholly-owned subsidiary of IREL.
Indiabulls Real Estate, Embassy Group aim to complete merger by December end
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Synopsis
The merger that will create one of India s largest listed property development platforms has received nod from anti-monopoly watchdog the Competition Commission of India (CCI). It has also received regulatory approvals from the NSE, BSE, capital market regulator Securities & Exchange Board of India (SEBI).
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The combined entity is likely to benefit from a complementary pan-India presence across key markets
Property developers Indiabulls Real Estate and Embassy Group are looking to complete their proposed merger, which marks the former’s complete exit from real estate business, by December end.
Embassy, Indiabulls Real Estate amalgamation gets key approvals
February 25, 2021
Merger process progressing to completion in a timely manner, say companies The Proposed Scheme of Amalgamation between Indiabulls Real Estate Ltd (IBREL), NAM Estates Pvt Ltd (NAM) and Embassy One Commercial Property Developments Private Limited (EOCPDPL) filed with CCI, BSE, NSE and the Securities Exchange Board of India (SEBI) has received all relevant regulatory approvals.
IBREL, NAM and EOCPDPL, in a joint release said: “Now with all necessary corporate approvals on track, the merger process is progressing to completion in a timely manner.”
NAM and EOCPDPL are subsidiaries of the Embassy Group, Embassy Group is one of the largest developers in Bengaluru and holds 14 per cent of IBREL.