Sebi imposes Rs 15 lakh fine on Amtek Auto for failing to meet bond redemption deadline
Markets regulator Sebi Friday slapped a fine of Rs 15 lakh on debt-ridden Amtek Auto for failing to make NCD redemptions on due date and not disclosing to the bourses about rating downgrade.It was alleged that the auto firm had not notified the exchanges about downgrade of the credit rating, the delay in redemption and payment of interest, and certain other violations of the listing agreement, including selective redemption.The regulator in 2016 appointed an adjudicating officer to inquire into and adjudge the alleged violations of the relevant provisions of the…
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