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In its order, the market regulator found that the company did not take prior approval from the stock exchange for converting non-convertible debentures (NCDs) into a term loan way back in March 2021
Capital markets regulator Sebi has imposed a penalty of Rs 7 lakh on Shapoorji Pallonji and Company for violating disclosure norms.
By not making such disclosures, the company violated the provisions of LODR rules and accordingly, Sebi imposed a "penalty of Rs 7 lakh on the noticee viz. Shapoorji Pallonji and Company Pvt. Ltd".
In its order, Sebi found that Shapoorji Pallonji and Company did not take prior approval from the stock exchange for converting non-convertible debentures (NCDs) into a term loan way back in March 2021.
This includes a principal amount of Rs 98.35 crore and Rs 27.78 crore for repayment of term loan, , Future Enterprises