Follow Us:
Monday, July 16, 2018

IPO scam: Sebi to return Rs 18 cr disgorged money to investors

Of this amount, Rs 7.35 crore was recovered by the regulator based on the basis of newly conferred recovery powers under the Securities Laws (Amendment) Act, 2014.

By: Express News Service | Mumbai | Published: December 18, 2015 12:39:26 am

Sebi has initiated the second tranche of distribution of the disgorged amount of Rs 18.06 crore to 4.63 lakh investors hit by irregularities in initial public offerings (IPOs).

Of this amount, Rs 7.35 crore was recovered by the regulator based on the basis of newly conferred recovery powers under the Securities Laws (Amendment) Act, 2014. This would be distributed among 4.63 lakh eligible investors across the country on December 18.

“Wherever the bank details of the eligible investors are available, the amount would be credited in the said account with an intimation to the investors. In the cases where bank details are not available, the cheques would be sent to the last known address of the investors,” Sebi said.

For all the latest Business News, download Indian Express App

Advertisement
Advertisement
Advertisement