Seven entities, including JM Financial Ltd and six individuals, have collectively paid a settlement amount of a little over Rs 23 lakh to the Securities and Exchange Board of India (SEBI) to.
SEBI issues settlement order to Utkarsh Small Finance Bank smetimes.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from smetimes.in Daily Mail and Mail on Sunday newspapers.
The capital markets regulator had issued a showcause notice to the bank on March 16, 2023, after it appointed an adjudicating officer on March 10, 2023.
The Securities and Exchange Board of India (SEBI) has issued a settlement order to Utkarsh Small Finance Bank upon the payment of Rs 1.24 crore by the lender.SEBI had issued a show-cause notice dated March 16, 2023, to Utkarsh Small Finance .
Pending Sebi s adjudication proceedings, the bank proposed to settle the proceedings initiated against it, without admitting or denying the findings of facts and conclusions of law.