{"id":87437,"date":"2023-02-02T10:37:00","date_gmt":"2023-02-02T05:07:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=87437"},"modified":"2023-02-02T10:35:40","modified_gmt":"2023-02-02T05:05:40","slug":"biz-sebi-settlement-12","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-sebi-settlement-12\/","title":{"rendered":"Kalyani Group&#8217;s promoter pays Rs 3 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-2473171246\"><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>Baba Kalyani, promoter of Kalyani Group, has settled a case of an alleged violation of SAST (Substantial Acquisition of Shares and Takeovers) norms in the matter of BF Utilities Ltd with market regulator Sebi on payment of Rs 3 lakh.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1910448327\"><!-- 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>BF Utilities is a subsidiary of the Kalyani Group.<\/p><p>The settlement came after Babasaheb Neelkanth Kalyani proposed to settle the pending proceedings through a settlement order &#8220;without admitting or denying the findings&#8221;.<\/p><p>&#8220;The proceedings that may have initiated for the alleged violations&#8230; are settled qua the applicants,&#8221; Sebi said in its settlement order passed on Tuesday.<\/p><div class=\"trade-content_5\" id=\"trade-3642808692\"><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 regulator further said it will not initiate enforcement action against the applicants for the said violation.<\/p><p>As per the order, Kalyani is a promoter of BF Utilities and has submitted that Kalyani Export and Investment, Aboli Investment had qualified as part of the promoter group of BF Utilities under the norms.<\/p><p>However, they were inadvertently not included in the list of promoter entities in the annual disclosures filed by Kalyani for the FY 2001-02 to 2020-21 under the SAST rules.<\/p><p>Further, in respect of non-compliance with the norms, the applicant has already filed updated annual disclosures for the fiscal ended March 31, 2022.<\/p><p>Also, the information related to the pledge of shares is already available in the public domain on the stock exchanges.<\/p><p>Pursuant to receipt of the application, the internal committee of Sebi deliberated on the aspect of the incorrect disclosures and their implications thereof and suggested the terms of the settlement.<\/p><div class=\"trade-content-10\" id=\"trade-999031593\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\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>Thereafter, a high-powered advisory committee of Sebi approved Rs 3 lakh for Baba Kalyani as a settlement amount.<\/p><p>The applicant informed the regulator about the remittance of the settlement amount on January 20, 2023, and Sebi has confirmed the credit of the same, the order said. PTI HG HG BAL BAL<\/p><div class=\"trade-after-content\" id=\"trade-3098802330\"><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>Baba Kalyani, promoter of Kalyani Group, has settled a case of an alleged violation of SAST (Substantial Acquisition of Shares and Takeovers) norms in the matter of BF Utilities Ltd with market regulator Sebi on payment of Rs 3 lakh. BF Utilities is a subsidiary of the Kalyani Group. The settlement came after Babasaheb Neelkanth [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":18020,"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-87437","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>Kalyani Group&#039;s promoter pays Rs 3 lakh to settle case with Sebi - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Baba Kalyani, promoter of Kalyani Group, has settled a case of an alleged violation of SAST (Substantial Acquisition of Shares and Takeovers) norms in the matter of BF Utilities Ltd with market regulator Sebi on payment of Rs 3 lakh.\" \/>\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=87437\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kalyani Group&#039;s promoter pays Rs 3 lakh to settle case with Sebi\" \/>\n<meta property=\"og:description\" content=\"Baba Kalyani, promoter of Kalyani Group, has settled a case of an alleged violation of SAST (Substantial Acquisition of Shares and Takeovers) norms in the matter of BF Utilities Ltd with market regulator Sebi on payment of Rs 3 lakh.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/?p=87437\" \/>\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=\"2023-02-02T05:07:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/01\/sebi-india-1.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\/01\/sebi-india-1.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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/?p=87437\",\"url\":\"https:\/\/tradebrains.in\/features\/?p=87437\",\"name\":\"Kalyani Group's promoter pays Rs 3 lakh to settle case with Sebi - 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