New Delhi : Markets regulator Sebi has imposed a fine of total Rs 27 lakh on Sungold Capital Ltd and its three executive directors for allegedly violating norms related to public holding and disclosures.
In an order passed on June 30, the Securities and Exchange Board of India (Sebi) imposed the penalty on Sungold Capital Ltd and its three executive directors — Rajiv R
Kotia, Ashok Modi and Sharad Gandhi. A fine of Rs 5 lakh was slapped on the firm for wrongly classifying the shareholding of the ‘promoter group’ as ‘public holding’ and making wrong disclosures of the shareholding of Kotia’s son. Besides, the company and its three executive directors faced a penalty of Rs 10 lakh for providing “false and misleading information” to the stock exchanges by classifying the shareholding of the ‘promoter group’ as ‘public holding’.
