SEBI Action on DHFL Ltd: Security Exchange Board of India (SEBI) has taken a big action. SEBI has decided to take major action and impose fine on the promoters of DHFL i.e. Dewan Housing Finance Limited. SEBI has imposed a fine of Rs 6 crore on the promoters of DHFL Ltd. Securities Exchange Board of India (SEBI) has announced a fine of Rs 6 crore on Kapil Wadhawan, Dheeraj Wadhawan, Rakesh Wadhawan and Sarang Wadhawan and others. Let us tell you that after passing the order on DHFL case, SEBI has now imposed penalty. Apart from this, SEBI has also imposed a fine of Rs 1 lakh on Utkarsh Small Finance Bank.
It was a case of violation of takeover rules
Securities Exchange Board of India (SEBI) said in its order that Kapil Wadhawan, Dheeraj Wadhawan, Rakesh Wadhawan and Sarang Wadhawan and other promoters have violated the takeover rules, due to which a fine of Rs 6 crore has been imposed on them.
Order to pay fine in next 45 days
SEBI said in its order that the promoters’ holdings have been hidden through other companies of the group. SEBI has made this allegation in its order. SEBI also said in its order that all the promoters should deposit this fine amount together or separately within 45 days.
82 page order issued
SEBI said in its 82-page order that Kapil and Dheeraj Wadhawan and other promoters had hidden the names of the three companies Hemisphere Infrastructure India, Galaxy Infraprojects and Developers and Silicon First Realtors. These promoters hold holdings in these three companies in a direct and indirect manner.
Apart from this, SEBI has also imposed a fine of Rs 1 lakh on Utkarsh Small Finance Bank. SEBI said in its order that the bank is accused of not giving disclosure of NCD related matters, in view of which SEBI has imposed a fine of Rs 1 lakh on the bank.
 has taken a big action. SEBI has decided to take major action and impose fine on the promoters of DHFL i.e. Dewan Housing Finance Limited.){kind=link}