Markets regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 10 lakh on Tata Steel for the delay in making a necessary disclosure about its increased shareholding in a group firm, Tinplate Company of India.
Tata Steel currently holds nearly 75% in Tinplate, a separately listed group firm, which is among the country’s largest producer of tinplate and its products are used for canning and packaging of processed foods, paints, beverages, dairy and other products.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
