Hira Automobiles takes 10 years to follow Sebi directive; fined Rs 14 lakh
Wed, Apr 17, 2024 2:55 PM

Hira Automobiles takes 10 years to follow Sebi directive; fined Rs 14 lakh

A Flip by Shubhangi Gupta
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It took 10 years for a company to follow a regulatory directive. Hira Automobiles Ltd was asked to report the progress of implementing minimum public shareholding (MPS) norms by May 2014 and the company submitted the report only in April 2024. As the market regulator noted in its order fining the company a total of Rs 14 lakh, "there has been a delay of around 10 years".

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