JM Group entities — JM Financial, JM Financial Services and JM Financial Products — have settled with markets regulator Sebi a case of alleged irregularities in managing public issue of non-convertible debentures (NCDs) of Piramal Enterprises after paying Rs 3.92 crore.
Additionally, JM Financial Ltd (JMFL) and JM Financial Services Ltd (JMFSL) disgorged illegal gains worth Rs 1.22 crore and Rs 1.33 crore, respectively, according to a settlement order passed by Sebi on September 19.
Also, JM Financial has agreed to a voluntary three-month debarment from acting as a manager in any public issue of debt securities, effective from the date of the settlement order. Similarly, JMFSL will refrain from acting as a distributor in such issues for the same period, while JMPL has accepted a three-month ban on undertaking IPO financing activities.
The case relates to public issues of NCDs during 2023.
During the examination of one such public issue of NCDs of Piramal Enterprises, it was obserJM Group entities — JM Financial, JM Financial Services and JM Financial Products — have settled with markets regulator Sebi a case of alleged irregularities in managing public issue of non-convertible debentures (NCDs) of Piramal Enterprises after paying Rs 3.92 crore.
Additionally, JM Financial Ltd (JMFL) and JM Financial Services Ltd (JMFSL) disgorged illegal gains worth Rs 1.22 crore and Rs 1.33 crore, respectively, according to a settlement order passed by Sebi on September 19.
Also, JM Financial has agreed to a voluntary three-month debarment from acting as a manager in any public issue of debt securities, effective from the date of the settlement order. Similarly, JMFSL will refrain from acting as a distributor in such issues for the same period, while JMPL has accepted a three-month ban on undertaking IPO financing activities.
The case relates to public issues of NCDs during 2023.
During the examination of one such public issue of NCDs of Piramal Enterprises, it was obser Latest News [ SOBAN NEWS: International and National ]
