15 entities settle case of disclosure norms with SEBI

In a case related to alleged violation of disclosure norms with the Securities and Exchange Board of India (SEBI), 15 entities have come to a settlement with the market regulator after payment of Rs 5.17 lakh as settlement charges, reported a national news agency.
 
The entities had filed applications to settle the proposed adjudication proceedings related to alleged delay in making the mandatory disclosures regarding increase in shareholding of one of the promoters, Today's News, Dalal Street, Dsij News,BSE, NSEBhutoria Investment, in the shares of RTS Power Corporation, as required under the takeover regulations. 

The settlement terms proposed by the entities were considered by SEBI’s High Powered Advisory Committee (HPAC), which recommended the case for settlement on payment of Rs 5,17,500 by the 15 entities.
 
The recommendation of HPAC was also accepted by the panel of whole-time members of SEBI. The entities are Abhay Transformers, Bhutoria Brothers, Bhutoria Investments, Rajasthan Transformers and Switchgears, Howrah Warehouse (merged with Rajasthan Transformers and Switchgears), Abhay Bhutoria HUF, Rajendra Bhutoria HUF, Hemlata Bhutoria, Rajendra Bhutoria, Sharad Bhutoria, Abhay Bhutoria, Rachna Bhutoria, Sadhna Bhutoria, Bhutoria Transformers and Rectifiers, and Ladnum Agricultural Farms.