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Sebi imposes a penalty of Rs 7,00,000 on NHAI for disclosure lapses

Capital markets regulator Sebi on Tuesday imposed a penalty of Rs 7 lakh on the National Highways Authority of India (NHAI) for delay in making timely disclosure about financial results.

Sebi had conducted an examination in the matter of NHAI from financial year 2015-16 to 2018-19.

During its investigation, Sebi found that NHAI delayed filing of its half-yearly financial results by 4 days to 78 days between 2015-16 to 2018-19.

The regulator had advised NHAI for strict compliance with the LODR (Listing Obligations andDisclosure Requirement )Regulations in future.

However, despite the advisory by Sebi, NHAI did not submit the financial results on time with respect to the half year ending on September 30, 2018 and March 31, 2019.

The results were submitted with a delay of 19 days and 78 days, respectively.

Source
business standard
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