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Indian developer fined 72.7b rupees for raising funds without approval
Add BT as a preferred sourcePublished Wed, Sep 23, 2015 · 09:50 PM
Mumbai
INDIA'S markets regulator imposed a penalty of 72.7 billion rupees (S$1.56 billion) on PACL Ltd for raising funds from the public without its approval.
The Securities and Exchange Board of India (Sebi) directed the New Delhi-based real estate developer to pay the fine within 45 days of receiving the order. Meeta Sharma, the company's law officer, didn't immediately respond to an e-mail seeking comments.
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