Sebi on Friday imposed a fine of Rs 20 lakh on Rajat Mishra for failing to comply with the summons issued by the authority in a matter pertaining to violation of market norms while dealing in Hindustan Aeronautics Ltd’s (HAL) shares.
The regulator has directed the individual (Rajat Mishra) to pay the amount of penalty within 45 days.
The Securities and Exchange Board of India (Sebi) had initiated adjudication proceedings against Mishra for the alleged violation of the regulatory norms.
Thereafter, a show cause notice was issued by Sebi to Mishra on May 8, 2024.
“I note …that the investigation report in the matter records that failure to furnish information and failure to appear in person before the Investigating Authority (IA) by the entity (Mishra) has hampered the investigation process and shows his callous attitude and complete disregard to the regulator,” Sebi’s Adjudicating Officer Amar Navlani said in an order.
Accordingly, the regulator penalised Mishra for flouting the S
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