SEBI Penalises IL&FS Securities and Allied Financial Services For Fraudulent Transfer of Mutual Fund Units From Dalmia Cement and OCL s Accounts moneylife.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneylife.in Daily Mail and Mail on Sunday newspapers.
Dalmia Bharat receives securities worth ₹344 cr back from IL&FS Securities
PTI
New Delhi |
Updated on
April 05, 2021 Cement maker Dalmia Bharat Ltd on Friday said that securities worth ₹344 crore have been credited back to the demat account of its arm by IL&FS Securities Services following an order of the Supreme Court.
Mutual fund units of its two erstwhile subsidiaries were earlier “fraudulently and illegally transferred” by Allied Financial Services Pvt Ltd (AFSPL) “in collusion with IL&FS Securities Services Limited (ISSL),” Dalmia Bharat said in a regulatory filing.
The two subsidiaries were of Dalmia Bharat’s step-down firm Dalmia Cement (Bharat) Limited (DCBL). “We hereby further update that the said Securities of DCBL lying with ISSL were released in favour of DCBL and credited back to its demat account as per said order of the Supreme Court,” it said.
Dalmia Bharat Ltd : Dalmia Bharat receives securities worth Rs 344 cr back from IL&FS Securities indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.