SEBI passes consent order on ICICI Bank

India Infoline News Service | Mumbai |

ICICI Bank has paid Rs 1 lakh towards settlement charges.

Market regulator SEBI (Securities and Exchange Board of India) has passed a consent order against Mumbai-based ICICI Bank for failing to disclose their stake sale in Jord Engineers.
The regulator had alleged that ICICI Bank one of the major shareholders of Jord Engineers sold its 26% stake to Bharat Kantilal (11.49%) and 3A Capital Services (14.51%) respectively in 2010 but did not make the disclosures on time, thus violating the insider trading rules.
ICICI Bank has paid Rs. 1 lakh towards settlement charges.

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