Updated Feb 10, 2021 | 07:48 IST
Sebi started a probe against the Gurugram-based airline after it had received several complaints from IndiGo co-founder Rakesh Gangwal alleging several violations. IndiGo pays Rs 2.10 crore to Sebi to settle alleged violation of corporate governance.
New Delhi: InterGlobe Aviation Ltd, which operates budget carrier IndiGo, has settled a case with the Securities and Exchange Board of India (Sebi) involving lapses of alleged corporate governance by paying Rs 2.10 crore as settlement charges. The market regulator initiated a probe against the airline after it had received several complaints from IndiGo co-founder Rakesh Gangwal alleging several violations.
The company has settled the matter without admitting or denying any violation on its part, by paying a settlement charge of Rs 2.10 crore, according to a Sebi notification issued on Tuesday.
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Sebi has barred two entities and five individuals for indulging in fraudulent trading activities with respect to GDR issuance by Soma Textiles & Industries Ltd. Soma Textiles & Industries Ltd is hereby restrained from accessing the securities market.directly or indirectly.for a period of 3 years from the date of this order, Sebi said in an order passed on Monday. Others facing the prohibition are SK Somany, AK Somany, P Bandopadhyay, Prafull Anubhai, Sunil Patel and Whiteview Trading Corporation. The ban has been imposed for a period ranging from 1-3 year. An investigation was conducted by Sebi with respect to the GDR (Global Depository Receipt) issuance by the company during October 1-31, 2006.