Aptech Ltd on Friday said it will take appropriate legal advice following a Rs 1 crore fine imposed by market regulator SEBI for allegedly violating insider trading norms.
SEBI had on Wednesday slapped the fine on Aptech for violating norms back in 2016.
"The Adjudicating Officer of SEBI has imposed a monetary penalty of Rs 1 Crore on the company on April 28, 2021 for alleged failure to close the trading window as prescribed under SEBI....," Aptech said in a regulatory filing.
The matter pertains to the strategic alliance entered between Aptech and Montana International Pre-school Pvt Ltd, which was announced in September 2016, it added.
"The company will take appropriate legal advice in this regard and shall keep the investors informed about the developments," it added.