IndiGo Q3 results: The company reported a standalone profit of Rs 2,998 crore for the quarter ended December 31, compared to Rs 1,418 crore in the year-ago period.
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The tribunal set aside a fine of ₹5.25 crore imposed on Cairn India for allegedly making a misleading public announcement of the buyback of shares on January 14, 2014.
In May 2021, the Securities and Exchange Board of India imposed penalty on Cairn India for allegedly making misleading public announcements on the buy-back offer.
The Securities Appellate Tribunal (SAT) has set aside capital markets regulator Sebi s order that imposed a penalty of Rs 5.25 crore on Cairn India for making a misleading announcement regarding buyback of shares in 2014.
Cairn India, which was merged with Vedanta Ltd in 2017, was accused of making a misleading public announcement designed to influence investors decisions. We hold that the violations of provisions of. the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) Regulations and. the Buyback Regulations are not proved against the company (Vedanta), a bench consisting of Justice Tarun Agarwala and presiding officer Meera Swarup said.