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

Spicejet likely to connect London with Delhi, Amritsar from summer

Spicejet is likely to start its much-awaited international long-haul operations from this summer with operations to London from New Delhi and Amritsar. The company is also looking to operate wide-body......

Maruti Suzuki opens bookings for New Baleno

Maruti Suzuki India has opened bookings for the new edition of India's most preferred premium hatchback, Baleno. New Baleno, the style icon of Nexa has been refreshed with a fresh sense of premium-ness......

SpiceJet reports passenger load factor of 92.7% in December

SpiceJet has reported the Passenger Load Factor (PLF) of 92.7% during the month of December 2018. The company had reported PLF of 91.1% during the month of November 2018.The PLF is a key indicator of the......

Top News

View all news

Maruti Suzuki opens bookings for New Baleno

Maruti Suzuki India has opened bookings for the new edition of India's most preferred premium hatchback, Baleno. New Baleno, the style icon of Nexa has been refreshed with a fresh sense of premium-ness......

SpiceJet reports passenger load factor of 92.7% in December

SpiceJet has reported the Passenger Load Factor (PLF) of 92.7% during the month of December 2018. The company had reported PLF of 91.1% during the month of November 2018.The PLF is a key indicator of the......

InterGlobe Aviation reports passenger load factor of 88.9% in December

InterGlobe Aviation (IndiGo) has reported the Passenger Load Factor (PLF) of 88.9% during the month of December 2018. The company had reported PLF of 84.9% during November 2018. The PLF is a key indicator......