The Securities Appellate Tribunal (SAT) SAT partly allowed appeal and reduced the penalty of Rs10.25 Cr. imposed on Texmo Pipes by SEBI for alleged involvement in a fraudulent scheme of using GDR proceeds to fund a subscriber to the global depository receipt (GDR) issue in violation of the PFUTP Regulations, to Rs25 lakh.
Holding seven entities, including Yash Birla, for providing security towards the loan taken by Vintage for subscribing to global depository receipts (GDR) of Zenith Steel Pipes & Industries Ltd (erstwhile Zenith Birla (India) Ltd) -ZBIL,
The Securities and Exchange Board of India (Sebi) conducted an investigation into the GDR issued by Commex Technology for the period May to June 2009, , sebi, Commex Technology, GDR Manipulation Case
Zenith Birla GDR manipulation case: Sebi bans 7 entities, 6 individuals business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.