6.4 C
London
Sunday, December 22, 2024
HomeNewsInterGlobe Aviation settles case with SEBI over norm violations

InterGlobe Aviation settles case with SEBI over norm violations

Related stories

J&K police release list of seized assets used for terrorism

Jammu, Feb 16 : The police in Jammu and...

Israel says 4 mln citizens vaccinated against Covid-19

Jerusalem, Feb 17 : Israeli officials announced that some...

Hungary to receive first shipment of Chinese vaccines

Beijing, Feb 17 : A Hungarian cargo plane loaded...

Mumbai, Feb 9 : InterGlobe Aviation Ltd, the parent company of IndiGo, has paid Rs 2.1 crore to SEBI towards settlement in a case over alleged violations of corporate governance norms.
The Securities and Exchange Board of India (SEBI) had conducted an investigation based on several complaints from Rakesh Gangwal, co-founder and director of Interglobe Aviation.
The complaints alleged several violations regarding compliance of corporate governance norms, related party transactions between the company and the ‘IGE Group’, timely intimation of important information to the board of directors of InterGlobe and misrepresentation made by the the company in its Red Herring Prospectus dated October 16, 2015.
The company had last month file an application before the capital market regulator seeking to close the case.
SEBI had issued a show-cause notice to the company last year asking it to explain why action should not be initiated against it.
Disclaimer: This story is auto-generated from IANS service.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories