The SEBI has imposed a total penalty of Rs 26 crore on IL&FS Securities Services Ltd. In a separate order, the capital market regulator has imposed penalties of Rs 3 crore on AFSPL and another Rs 3 crore on its MD, Awanish Kumar Mishra. It has also imposed fines of Rs 14 lakh and Rs 7 lakh on its directors Himanshu Arora and Jitendra Kumar Tiwari. The capital market regulator has also restrained IL&FS Securities from acquiring any new clients till a period of two years. Further, the IL&FS arm would also undertake a comprehensive overhaul of all its procedures and policies, especially its Risk Management Policy and implement necessary corrective measures to ensure that the violations observed are not repeated, the regulator said.
SEBI imposes Rs 26 cr penalty on IL&FS Securities, AFSPL for fraudulent transfer of MF units
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Synopsis
Unable to have tough conversations within family groups fearing friction, many vent their frustration online by sly tweeting at people still going ahead with their grand wedding plans
ETtech
Illustration: Rahul Awasthi
“Opened Facebook after ages today and it’s just a combination of Mother’s Day posts, wedding photos, and Covid obituaries,” Raj Kunkolienkar (@kunksed) tweeted on Sunday.
Kunkolienkar’s post was one part observational and nine parts stemming out of frustration. Last week, the Goa-based cofounder of Stoa School, a premier B-school, wearily tweeted about his grandmother testing positive for Covid-19 after she was “dragged for a wedding” despite his protest.