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Ramkrishna Forgings pays Rs 5.57 lakh to settle allegations of non-disclosure of material events

Money Control

Money Control · 8m

Ramkrishna Forgings pays Rs 5.57 lakh to settle allegations of non-disclosure of material events

Ramakrishna Forgings settled allegations of non-disclosure of material events with the Securities and Exchange Board of India (SEBI) by paying Rs 5.57 lakh. The settlement order, issued on March 19, stated that the company violated certain regulations of the Listing Obligations and Disclosure Requirements (LODR) Regulations. SEBI's High Powered Advisory Committee (HPAC) reviewed and approved the settlement terms, recommending that the case be settled with the payment. The company informed SEBI about the remittance of the settlement amount on February 7. On March 20, Ramakrishna Forgings' stock closed at Rs 661.35 on the NSE, up 3.67 percent from the previous close.

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