BPCL, HPCL, Indian Oil, ONGC, GAIL, Indian Railway Finance Corp, Garden Reach Shipbuilders & Engineers and Ircon International, among others, received notices from BSE and NSE separately, asking them to pay up a fine of ₹5,42,800 each to both the bourses.
“The Religare board has to state very clearly why it is opposing a large shareholder increasing its holding. The minority shareholders are affected and they are waiting and watching. SEBI needs to show some directions to both the board as well as the Burmans on what are the next steps. I think the open offer trigger would be passed and that is a very procedural matter. ”
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