NEW DELHI: Capital market regulator Sebi on Tuesday requested Vedanta Ltd, earlier often called Cairn India Ltd, to pay Cairn UK Holdings Limited (CUHL) Rs 77.62 crore together with curiosity for delayed payment of dividend.
The Securities and Exchange Board of India (Sebi) has requested Vedanta Ltd to pay the high quality inside 45 days. Apart from this, the regulator directed Navin Agarwal, Tarun Jain, Thomas Albanese and GR Arun Kumar to restrain from accessing the securities market for two months. It has additionally barred Priya Agarwal, Okay Venkataramanan, Lalita D Gupte, Aman Mehta, Ravi Kant and Edward from accessing the market for one month.
“Noticee No.1 (Vedanta Ltd) shall pay to CUHL Rs 77,62,55,052 i.e. simple interest @ 18 per cent per annum for delayed payment of dividend, due and payable by Noticee No.1 to CUHL, within 45 days,” Sebi stated in its 76-page order.
The order got here after Sebi acquired a criticism on April 13, 2017 from Cairn UK Holdings Ltd alleging non-payment of dividends of Rs 340.65 crore by Cairn India Ltd, which was merged with Vedanta on April 11, 2016, in respect of over 18 crore fairness shares of Cairn India owned by CUHL.
The Securities and Exchange Board of India (Sebi) has requested Vedanta Ltd to pay the high quality inside 45 days. Apart from this, the regulator directed Navin Agarwal, Tarun Jain, Thomas Albanese and GR Arun Kumar to restrain from accessing the securities market for two months. It has additionally barred Priya Agarwal, Okay Venkataramanan, Lalita D Gupte, Aman Mehta, Ravi Kant and Edward from accessing the market for one month.
“Noticee No.1 (Vedanta Ltd) shall pay to CUHL Rs 77,62,55,052 i.e. simple interest @ 18 per cent per annum for delayed payment of dividend, due and payable by Noticee No.1 to CUHL, within 45 days,” Sebi stated in its 76-page order.
The order got here after Sebi acquired a criticism on April 13, 2017 from Cairn UK Holdings Ltd alleging non-payment of dividends of Rs 340.65 crore by Cairn India Ltd, which was merged with Vedanta on April 11, 2016, in respect of over 18 crore fairness shares of Cairn India owned by CUHL.
