Xchanging Tech settles norms violation case with SEBI
The settlement order came after the company filed an application with the regulator proposing to settle the matter without admitting and denying the alleged violations
PTI | February 16, 2021 | Updated 21:17 IST
Representational Image
Xchanging Technology Services India on Tuesday settled with Sebi a case of alleged violation of takeover norms in relation to XChanging Solutions Ltd after paying Rs 65.24 lakh as settlement charges.
The settlement order came after the company filed an application with the regulator proposing to settle the matter without admitting and denying the alleged violations.
According to the three-page order, the applicant also agreed to pay the differential amount in case there is an adverse outcome related to an appeal pending before the Securities Appellate Tribunal (SAT).
Xchanging Technology Services India on Tuesday settled with Sebi a case of alleged violation of takeover norms in relation to XChanging Solutions Ltd after paying Rs 65.24 lakh as settlement charges. The settlement order came after the company filed an application with the regulator proposing to settle the matter without admitting and denying the alleged violations. According to the three-page order, the applicant also agreed to pay the differential amount in case there is an adverse outcome related to an appeal pending before the Securities Appellate Tribunal (SAT). In May 2016, a merger agreement was entered into between Hewlett Packard Enterprise (HPE), Computer Sciences Corporation (CSC) and DXC Technology Company. The transactions contemplated under the agreement were completed in April 2017.