Link Intime India Settles Violations Norms Case With SEBI By Paying Rs.14.5 Lakh
Link Intime India Settles Violations Norms Case With SEBI By Paying Rs.14.5 Lakh
The matter pertained to the inspection of Electrotherm India
Link Intime India (now MUFG Intime India), a registrar to an issue and share transfer agent, has settled a case with the Securities and Exchange Board of India (SEBI) for alleged violation of norms by paying Rs.14.5 lakh.
The company sorted out the proceedings without "admitting or denying the findings of facts and conclusions of the law.”
This means the market watchdog will not enforce any proceedings against Link Intime. However, it retained the right to take further action if any misrepresentation was discovered or if the company broke the settlement terms.
Amit Kapoor, the adjudicating officer of SEBI, stated, “In view of the acceptance of the settlement terms and settlement amount, the instant adjudication proceedings initiated against the applicants vide the show-cause notice of 16 October 2024 is disposed.”
The market regulator initiated the proceedings under SEBI (Registrars to an Issue and Share Transfer Agents) Rules, related to the inspection of Electrotherm India Ltd.
However, the company filed the revised settlement terms, which were approved by SEBI’s high-powered advisory committee recommending the settlement.
