GDR scam: SEBI lets Aptech off the hook - The Hindu BusinessLine
May 13, 2021 SEBI had barred the firm from the stock markets for 6 months - AndreyPopov× Spares the company monetary penalty; says law cannot be applied retrospectively Market regulator SEBI had found Aptech Ltd guilty of fraud in the GDR scam but has let go of the company without any monetary penalty. SEBI’s reasoning is that it got ‘powers to adjudicate’ the matter after the company worked out its scheme and the law cannot be applied retrospectively. BusinessLine had reported on April 2, 2020 that SEBI had found Aptech guilty in a GDR issue and loan fraud and barred the company ...
Source: thehindubusinessline.com