Saturday, July 21, 2018

google plus

Posted at: Dec 8, 2017, 1:03 AM; last updated: Dec 8, 2017, 1:03 AM (IST)

SEBI slaps Rs 10-lakh fine on Tata Steel

New Delhi, December 7

SEBI today imposed a penalty of Rs 10 lakh on Tata Steel for delay in making necessary disclosure about its increased shareholding in a group firm, Tinplate Company of India Ltd.

Tata Steel currently holds nearly 75% in Tinplate, a separately listed group firm, which is among the country’s largest producer of tinplate and its products are used for canning and packaging of processed foods, paints, beverages, dairy and other products.

In an order passed today, SEBI said Tinplate in September 2009 had announced an issue of 4,31,90,851 shares on a rights basis to its existing shareholders, together with the issue of 1,79,96,188 fully convertible debentures in the ratio of 5 fully convertible debentures for every eight shares. — PTI


All readers are invited to post comments responsibly. Any messages with foul language or inciting hatred will be deleted. Comments with all capital letters will also be deleted. Readers are encouraged to flag the comments they feel are inappropriate.
The views expressed in the Comments section are of the individuals writing the post. The Tribune does not endorse or support the views in these posts in any manner.
Share On