Capital markets regulator Sebi has levied fines totalling Rs 33 lakh on Manpasand Beverages and its directors for violating regulatory norms.
The regulator slapped a fine of Rs 10 lakh on Manpasand Beverages Ltd (MBL), Rs 7 lakh on Dhirendra Singh (Chairman and MD of MBL), Rs 5 lakh on Abhishek Singh (whole time director), Rs 2 lakh each on Milind Babar, Chirag Doshi and Paresh Thakkar (CFO).
It also imposed a penalty of Rs 5 lakh Dhirendra Singh, Abishek Singh and Dhruv Agrawal (jointly and severally).
The order came after Sebi conducted an investigation with respect to the misstatement/manipulation of the financial statements of MBL for FY17-18.
The period of investigation was financial years ending March FY17-18 and the regulator observed that MBL had raised Rs 400 crore through IPO in June 2015 and Rs 500 crore through Qualified Institutional Placement (QIP) issue in September 2016.
The shares of the company are listed at both BSE and NSE.
During the investigation, an indepen
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