IL&FS Financial Services Ltd has settled with markets regulator Sebi a case pertaining to alleged non-submission of ‘fit and proper’ declaration to the exchange after paying Rs 13.65 lakh. This comes after IL&FS proposed to settle the case “without admitting or denying the findings of fact and conclusions of law” through a settlement order. “The instant adjudication proceedings initiated against IL&FS Financial Services Ltd vide show cause notice…dated April 12, 2022 are hereby disposed of,” the Securities and Exchange Board of India (Sebi) said in a settlement order passed on Wednesday.
