Zee Media Bureau
New Delhi: Capital Market regulator Sebi on Friday imposed Rs 1 crore fine on six merchant bankers for disclosure-related lapses in the IPO of credit rating agency CARE.
The merchant bankers fined by Sebi are Kotak Mahindra Capital, DSP Merrill Lynch, Edelweiss, ICICI Sec, IDBI Capital Market and SBI Cap.
"If material facts are suppressed or distorted as in the extant case, the very safety and integrity of the securities market would become a cause of concern for the regulators and the investors," SEBI said in the order
The IPO under the SEBI order was issued in December 2012, in which merchant banking arms of SBI (State Bank of India), ICICI, Kotak Mahindra, IDBI, DSP Merrill Lynch, and Edelweiss groups have been penalised.
With Agency Inputs
