Sebi levies Rs 12 cr fine on Winsome Yarns, its MD
NEW DELHI: Regulator Sebi has slapped penalty totalling Rs 12 crore on Winsome Yarns Ltd and its managing director in a matter pertaining to manipulation in issuance of global depositories receipts (GDR), thereby violating market norms.
The investigation period was March-April 2011.
The firm had issued GDRs amounting to USD 13.24 million (around Rs 96 crore) on March 29, 2011.
It was noted that Vintage FZE, now known as Alta Vista International FZE, was the sole subscriber of GDR issue. For this,…
