Sebi imposes Rs 2.3 crore fine on 32 entities for diverting IPO funds - Moneycontrol
5/31/2022 12:00:00 AM2 years 11 months ago
by PTI
by PTI
It was found that MVEL had deviated from the objects of the issue and has not utilised the IPO proceeds as stated in the draft prospectus. Apart from the company, the directors also recklessly omitted to perform their part, which resulted in diversion of IPO …
Capital markets regulator Sebi on May 31 imposed fines totalling to Rs 2.3 crore on 32 entities for indulging in misutilisation of the IPO proceeds in the matter of Midvalley Entertainment Ltd. Penal… [+2054 chars]
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