Sebi proposes Rs 50,000 fine for firms not cooperating with monitoring agencies
Mumbai: Sebi on Tuesday proposed imposing a fine of ₹50,000 for every instance of non-cooperation by listed companies with monitoring agencies overseeing the utilisation of funds raised through public issues, along with stricter enforcement measures that could eventually lead to the freezing of promoters’ demat accounts.
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The regulator said monitoring agencies would be empowered to submit their reports directly to stock exchanges if companies fail to provide information or supporting documents within prescribed timelines.
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