Mansun Consultancy and its promoters have settled with capital markets regulator Sebi a case on alleged violation of investment advisers norms.
Mansun and its promoters/directors — P R Sundar and Mangayarkarasi Sundar — paid Rs 15.60 lakh each towards the settlement charges, as per a Sebi order on Thursday.
Besides, the terms of the settlement also included the disgorgement of the fees collected by Mansun, along with the 12 per cent per annum interest — from June 2020 till February 2023 — of Rs 6.07 crore.
In the revised settlement terms, the applicants proposed that Mansun, PR Sundar and Mangayarkarasi “shall refrain from buying, selling or otherwise dealing in securities in India for a period of one year from the date of passing of the settlement order”.
“The Applicants shall refrain from buying, selling or otherwise dealing in securities markets for a period of one year from the date of passing of the settlement order,” Sebi’s Chief General Manager Anitha Anoop, said in the
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