Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs11 lakh on Bilcare Ltd, the Company’s chairman and managing director (CMD) Mohan Bhandari and six other directors and key executives for violating financial reporting and adherence to accounting standards.
Sebi has slapped penalties totalling Rs 12 lakh on Prabhu Steel Industries Ltd (PSIL), its promoters including Harish Gangaram Agarwal, Dinesh Gangaram Agarwal and Akshita Harish Agarwal for flouting regulatory norms.
Sebi received a Financial Reporting Quality Review Report (FRQRR) from National Financial Reporting Authority in the matter of PSIL on February 14, 2022, wherein it noted serious lapses with respect to accounting and auditing standards of the company.
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