Securities and Exchange Board of India (SEBI) has passed an order dated July 09, 2014 levying a penalty of Rs 1.03 crore on Apollo Tyres for violating Regulation 5A and Regulation 19(7) of the SEBI Buy Back Regulations, 1998. This decision of the SEBI relates to a negotiated buy back of shares undertaken by the Company from the office of the Custodian in 2003 pursuant to orders passed by the Special Court, Bombay (constituted under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992). The Company is examining the order passed and will take such steps as are available to it under law.
Apollo Tyres produces the entire range of automotive tyres for ultra and high speed passenger cars, truck and bus, farm, off-the-road, industrial and specialty applications like mining, retreaded tyres and retreading material. These are produced across Apollo’s eight manufacturing locations in India, Netherlands and Southern Africa.
Company Name | CMP |
---|---|
MRF | 129700.00 |
Apollo Tyres | 483.00 |
CEAT | 2368.40 |
Balkrishna Inds. | 3025.05 |
JK Tyres & Inds. | 406.00 |
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