Sebi imposes Rs 5.25 crore fine on Cairn India

SEBI

Markets regulator Sebi on Wednesday imposed a penalty of Rs 5.25 crore on Cairn India for making a misleading announcement regarding the buyback of shares in 2014.

In addition, the regulator levied a fine of Rs 15 lakh each on P Elango, who was the CEO and director of Cairn, Aman Mehta, who was the director on the company’s board, and Neerja Sharma, who was director (risk assurance) and company secretary, Sebi said in an order.

News Source:- Moneycontrol

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