Utkarsh SFB pays Rs 1.24 cr to Sebi to settle case

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Utkarsh SFB pays Rs 1.24 crore to Sebi to settle case

(20 second reading) Utkarsh Small Finance Bank has settled a case pertaining to disclosure norms with capital markets regulator SEBI and paid Rs 1.24 crore towards the settlement charges. Sebi had started adjudication proceedings against the bank for alleged violations of the Listing Obligations and Disclosure Requirements (LODR) Regulations.

The capital markets regulator had issued a showcause notice to the bank on March 16, 2023, after it appointed an adjudicating officer on March 10, 2023.

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