SBICAP Trustee Settles Debenture Trustee Case with SEBI for Rs 25 Lakh
SBICAP Trustee Company Ltd resolved a dispute with SEBI regarding alleged breaches of debenture trustee rules by paying a settlement amount of Rs 25 lakh. SEBI's allegations included improper disclosures related to the maintenance of the 'recovery expense fund' and calendar of interest/redemptions on SBICAP's website.
![SBICAP Trustee Settles Debenture Trustee Case with SEBI for Rs 25 Lakh](https://devdiscourse.blob.core.windows.net/aiimagegallery/12_06_2024_11_05_16_9884603.png)
- Country:
- India
New Delhi, Jun 12 (PTI) — SBICAP Trustee Company Ltd has concluded a settlement with the Securities and Exchange Board of India (SEBI) over purported violations of debenture trustee regulations. The settlement, initiated through an application by SBICAP to SEBI, required the subsidiary of SBI Capital Markets Ltd to pay Rs 25.08 lakh.
According to SEBI's order, the case against SBICAP was disposed of following the acceptance of the settlement terms and the receipt of the settlement amount. SEBI had previously issued a show cause notice alleging that SBICAP had failed to properly disclose information on its website related to the maintenance of a 'recovery expense fund' and the calendar of interest/redemptions.
In addition, SEBI pointed out that SBICAP had made improper disclosures regarding asset cover certificates, leading to the regulatory settlement. The adjudication proceedings were officially closed as of September 6, 2023, as per SEBI's Settlement Regulations.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
DGCA revises regulations to boost seaplane operations under UDAN scheme
Demands to ban exit polls 'childish', need for regulations and norms for pollsters: Axis My India Chief Pradeep Gupta.
Supreme Court Revokes Chevron Deference: A New Era for U.S. Regulations
Donald Trump Granted Second Extension for Financial Disclosures
Lance Stroll to Race for Aston Martin Until 2026 Amid New F1 Regulations