New Delhi, Jul 8 (PTI) Two of the promoter entities of GEEL, Sciquater Media Services and Essel Corporate LLP, on Friday settled a case with market regulator Sebi. 9 lakh as settlement amount. It was alleged that the entities violated insider trading norms and disclosure omissions under the SAST (Substantial Acquisition of Shares and Acquisitions) Rules.
SEBI An examination was conducted in the matter after receiving an unusual letter from the Chief Compliance Officer of Zee Entertainment Enterprises Limited (ZEEL). Business Pattern and hammers of stock prices of Equity Shares of ZEEL. These letters were received by the regulator in December 2018 and January 2019.
Pending the adjudication proceedings, Sciquator Media Services Limited and Essel Corporate propose to settle the matter without accepting or denying the findings of fact and the findings of law.
The High Powered Advisory Committee of SEBI has considered the settlement terms proposed by the entities and recommended settlement of the matter on payment of Rs. 6.21 lakh more by Cyquator Media 3 lakhs by Essel Corporate LLP.
SEBI said that both the companies had remitted the amount in June.
“Therefore, in view of acceptance of settlement terms and receipt of settlement amount as above by SEBI, the proceedings under SCN dated 25th November, 2021 are disposed of against Sycamore Media Services and Essel Corporate LLP,” it said. couple. PTI HG Ram
This story has been published without modification in text from a wire agency feed.