Breaking News

You are here » Indian-Commodity  :  Corporate  :  SEBI imposes Rs 12 lakh penalty on Kwality, five promoters

14-Jul2017

SEBI imposes Rs 12 lakh penalty on Kwality, five promoters

Markets regulator Securities and Exchange Board of India (SEBI) has imposed a total penalty of Rs 12 lakh on Kwality and its five promoters for allegedly violating disclosure norms. The promoters are Sanjay Dhingra, Gulshan Dhingra, Naresh Dhingra, Krishan Dhingra and Kanika Dhingra.

A probe conducted by the SEBI into share trading of Kwality between December 2009 and December 2011 found that there was a change in the number of promoters and their shareholdings for the quarter ended September 2011.

During the quarter, Kanika Dhingra was included in the promoter category and acquired 5.24 crore shares or 25.84 per cent of the total capital from other promoter and was required to disclose acquisition of shares to the company and to the stock exchanges under Substantial Acquisition of Shares and Takeovers (SAST) norms.

Kwality is amongst largest and fastest growing private dairy companies in India today with milk processing capacity of 3.4 Mn Litres /Day through its six state‐of‐the‐art plants strategically located close to key north markets.


Related News

View all news

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......

Crisil downgrades DHFL's commercial papers worth Rs 850 crore

Credit Rating Agency Crisil has downgraded Dewan Housing Finance Corporation's commercial paper worth Rs 850 crore from A3+ to A4+. Its rating also continues to be on 'Rating Watch with Negative Implications'.......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......