Published 13:51 IST, July 1st 2023
Sebi fines Vedanta for violating disclosure norms
Sebi has penalised Vedanta Rs 30 lakh for flouting disclosure requirements.
The Securities and Exchange Board of India imposed a penalty of Rs 30 lakh on Vedanta Ltd. for violating listing and disclosure norms | Image Credit: ANI | Image:
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The Securities and Exchange Board of India (SEBI) on Friday imposed a penalty of Rs 30 lakh on Vedanta Ltd for violating the market regulator's disclosure requirements.
SEBI said Vedanta had broken its rules by publishing a press release on its website that made it appear it had partnered with Foxconn to make semiconductors in India, when the deal was with Vedanta's holding company.
The publication led to Vedanta Ltd's share price moving significantly, SEBI said.
Vedanta did not immediately respond to a Reuters request for comment outside business hours.
Updated 13:51 IST, July 1st 2023