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Journalism of Courage
Market regulator Sebi has settled and passed a consent order in a case against Tech Trek India on payment of Rs 10.35 lakh for the company’s delay in compliance with regulations on takeovers.
The matter against Tech Trek relates to its non-compliance with Securities and Exchange Board of India’s (Sebi’s) rules regarding disclosures to stock exchanges where the company is listed.
“… consent application is settled as per the consent terms and SEBI shall not initiate any enforcement action against the applicant for the said delay in compliance,” Sebi said in its order.
The market regulator,however,did not give details about the origin of the case Tech Trek.
Tech Trek had in March this year made an application for settlement of matter through a consent order.
Sebi’s High Powered Advisory Committee recommended that the case may be settled on payment of Rs 7.75 lakh towards settlement charges after considering the application.
In a consent order,the company or person pays the settlement fee without denying or admitting the charges.
