Securities and Exchange Board of India (SEBI) has levied a penalty of Rs 1 crore on Omkar Overseas' promoter Champalal Gopiram Agarwal and six others. The markets regulator has imposed fine for trading in the firm's stock while having access to unpublished price sensitive information (UPSI).
The others named in the SEBI order are Varsha Agarwal, Shashidevi Agarwal, Krishnadevi Agarwal, Ronit Agarwal, Prashant Agarwal and Satyabhama Agarwal.
Omkar Overseas is part of the Omkar Group. Grey cloth is purchased by the company and processed by associate group companies. It has been exporting bed sheets and processed fabrics to Sweden, France, Switzerland, the UK, Germany, and Norway, among other countries.
