{"id":102665,"date":"2023-05-11T11:00:00","date_gmt":"2023-05-11T05:30:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=102665"},"modified":"2023-05-11T10:58:49","modified_gmt":"2023-05-11T05:28:49","slug":"cummins-inc-pays-rs-91-22-lakh-to-settle-case-with-sebi","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/cummins-inc-pays-rs-91-22-lakh-to-settle-case-with-sebi\/","title":{"rendered":"Cummins Inc pays Rs 91.22 lakh to settle case with Sebi"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1664441926\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Cummins Inc, promoter of Automotive Axles Ltd, has settled with markets regulator Sebi a case pertaining to alleged violation of open offer lapses, after paying Rs 91.22 lakh as settlement charges.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-773779931\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The order came after the applicant (Cummins Inc) filed a settlement application for proposing to settle by neither &#8216;admitting nor denying the guilt&#8217;.<\/p><p>&#8220;The proceedings that may be initiated for the violation are settled qua the Applicant,&#8221; Sebi&#8217;s Whole Time Members Ashwani Bhatia and Ananth Narayan G said in the settlement order.<\/p><p>The case relates to Cummins indirectly acquiring a 35.52 per cent share in Automotive Axles Ltd (AAL).<\/p><div class=\"trade-content_5\" id=\"trade-4010322434\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The acquisition was contracted on February 21, 2022, which triggered the requirement of public announcement of making of an open offer by the applicant under the SAST (Substantial Acquisition of Shares and Takeovers) norms.<\/p><p>The applicant was required to make the public announcement. However, it made the announcement belatedly with a delay of 227 days, according to a settlement order passed by Sebi on Monday.<\/p><p>In view of the same, Cummins was found to have violated the provisions of SAST rules.<\/p><p>The settlement application was filed before Sebi on February 9, 2023, and the High Powered Advisory Committee of the regulator on February 22, 2023, recommended that the case for settled upon payment of the settlement charges.<\/p><p>After Cummins paid Rs 91.22 lakh, Sebi issued the settlement order.<\/p><div class=\"trade-after-content\" id=\"trade-477594466\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Cummins Inc, promoter of Automotive Axles Ltd, has settled with markets regulator Sebi a case pertaining to alleged violation of open offer lapses, after paying Rs 91.22 lakh as settlement charges. The order came after the applicant (Cummins Inc) filed a settlement application for proposing to settle by neither &#8216;admitting nor denying the guilt&#8217;. &#8220;The [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":58191,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-102665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cummins Inc pays Rs 91.22 lakh to settle case with Sebi - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Cummins Inc, promoter of Automotive Axles Ltd, has settled with markets regulator Sebi a case pertaining to alleged violation of open offer lapses, after paying Rs 91.22 lakh as settlement charges.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/?p=102665\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cummins Inc pays Rs 91.22 lakh to settle case with Sebi\" \/>\n<meta property=\"og:description\" content=\"Cummins Inc, promoter of Automotive Axles Ltd, has settled with markets regulator Sebi a case pertaining to alleged violation of open offer lapses, after paying Rs 91.22 lakh as settlement charges.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/?p=102665\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-11T05:30:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/08\/Cummins-India-Cover-image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/08\/Cummins-India-Cover-image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/?p=102665\",\"url\":\"https:\/\/tradebrains.in\/features\/?p=102665\",\"name\":\"Cummins Inc pays Rs 91.22 lakh to settle case with Sebi - Trade Brains Features\",\"isPartOf\":{\"@id\":\"https:\/\/tradebrains.in\/features\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/tradebrains.in\/features\/?p=102665#primaryimage\"},\"image\":{\"@id\":\"https:\/\/tradebrains.in\/features\/?p=102665#primaryimage\"},\"thumbnailUrl\":\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/08\/Cummins-India-Cover-image.jpg\",\"datePublished\":\"2023-05-11T05:30:00+00:00\",\"author\":{\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3\"},\"description\":\"Cummins Inc, promoter of Automotive Axles Ltd, has settled with markets regulator Sebi a case pertaining to alleged violation of open offer lapses, after paying Rs 91.22 lakh as settlement charges.\",\"breadcrumb\":{\"@id\":\"https:\/\/tradebrains.in\/features\/?p=102665#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/tradebrains.in\/features\/?p=102665\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/tradebrains.in\/features\/?p=102665#primaryimage\",\"url\":\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/08\/Cummins-India-Cover-image.jpg\",\"contentUrl\":\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/08\/Cummins-India-Cover-image.jpg\",\"width\":1280,\"height\":854},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/tradebrains.in\/features\/?p=102665#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/tradebrains.in\/features\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cummins Inc pays Rs 91.22 lakh to settle case with Sebi\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/tradebrains.in\/features\/#website\",\"url\":\"https:\/\/tradebrains.in\/features\/\",\"name\":\"Trade Brains\",\"description\":\"Stock Market NSE\/BSE Latest News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/tradebrains.in\/features\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3\",\"name\":\"PTI News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g\",\"caption\":\"PTI News\"},\"url\":\"https:\/\/tradebrains.in\/features\/author\/ptinews\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Cummins Inc pays Rs 91.22 lakh to settle case with Sebi - Trade Brains Features","description":"Cummins Inc, promoter of Automotive Axles Ltd, has settled with markets regulator Sebi a case pertaining to alleged violation of open offer lapses, after paying Rs 91.22 lakh as settlement charges.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/tradebrains.in\/features\/?p=102665","og_locale":"en_US","og_type":"article","og_title":"Cummins Inc pays Rs 91.22 lakh to settle case with Sebi","og_description":"Cummins Inc, promoter of Automotive Axles Ltd, has settled with markets regulator Sebi a case pertaining to alleged violation of open offer lapses, after paying Rs 91.22 lakh as settlement charges.","og_url":"https:\/\/tradebrains.in\/features\/?p=102665","og_site_name":"Trade Brains Features","article_publisher":"https:\/\/www.facebook.com\/TradeBrainsOfficial\/","article_published_time":"2023-05-11T05:30:00+00:00","og_image":[{"width":1280,"height":854,"url":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/08\/Cummins-India-Cover-image.jpg","type":"image\/jpeg"}],"author":"PTI News","twitter_card":"summary_large_image","twitter_image":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/08\/Cummins-India-Cover-image.jpg","twitter_creator":"@TradeBrainsGrp","twitter_site":"@TradeBrainsGrp","twitter_misc":{"Written by":"PTI News","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/tradebrains.in\/features\/?p=102665","url":"https:\/\/tradebrains.in\/features\/?p=102665","name":"Cummins Inc pays Rs 91.22 lakh to settle case with Sebi - Trade Brains Features","isPartOf":{"@id":"https:\/\/tradebrains.in\/features\/#website"},"primaryImageOfPage":{"@id":"https:\/\/tradebrains.in\/features\/?p=102665#primaryimage"},"image":{"@id":"https:\/\/tradebrains.in\/features\/?p=102665#primaryimage"},"thumbnailUrl":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/08\/Cummins-India-Cover-image.jpg","datePublished":"2023-05-11T05:30:00+00:00","author":{"@id":"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3"},"description":"Cummins Inc, promoter of Automotive Axles Ltd, has settled with markets regulator Sebi a case pertaining to alleged violation of open offer lapses, after paying Rs 91.22 lakh as settlement charges.","breadcrumb":{"@id":"https:\/\/tradebrains.in\/features\/?p=102665#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/tradebrains.in\/features\/?p=102665"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/tradebrains.in\/features\/?p=102665#primaryimage","url":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/08\/Cummins-India-Cover-image.jpg","contentUrl":"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/08\/Cummins-India-Cover-image.jpg","width":1280,"height":854},{"@type":"BreadcrumbList","@id":"https:\/\/tradebrains.in\/features\/?p=102665#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/tradebrains.in\/features\/"},{"@type":"ListItem","position":2,"name":"Cummins Inc pays Rs 91.22 lakh to settle case with Sebi"}]},{"@type":"WebSite","@id":"https:\/\/tradebrains.in\/features\/#website","url":"https:\/\/tradebrains.in\/features\/","name":"Trade Brains","description":"Stock Market NSE\/BSE Latest News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/tradebrains.in\/features\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/tradebrains.in\/features\/#\/schema\/person\/432b854fc143da831dae702afe00a7d3","name":"PTI News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/tradebrains.in\/features\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/33d290530d88025709a22a0e9cea1a42ff2e6013ca877b91a86e7ca950cdd59e?s=96&d=mm&r=g","caption":"PTI News"},"url":"https:\/\/tradebrains.in\/features\/author\/ptinews\/"}]}},"_links":{"self":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts\/102665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/comments?post=102665"}],"version-history":[{"count":1,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts\/102665\/revisions"}],"predecessor-version":[{"id":102666,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/posts\/102665\/revisions\/102666"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/media\/58191"}],"wp:attachment":[{"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/media?parent=102665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/categories?post=102665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradebrains.in\/features\/wp-json\/wp\/v2\/tags?post=102665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}