MUMBAI: Markets regulator Sebi has penalised promoters of Videocon Industries — Venugopal Dhoot and two of his investment companies — with a total fine of Rs 75 lakh for pledging Videocon shares without proper disclosure to shareholders and also for entering into off-market transactions using inside information.
The case relates to Sebi rule violations by these entities between April and September 2017. Each of the entities have been fined Rs 25 lakh.
Interestingly, the Sebi order showed that despite sending several notices, Dhoot neither replied to them nor appeared before the regulator’s adjudication officer for the case.
