The Securities and Exchange Board of India (SEBI) has levied a total penalty of Rs 24 lakh on Amtek Auto for failing to disclose the invocation of pledge shares in the matter of Castex Technologies. As per the order, Amtek Auto is the promoter of Castex Technologies (CTL).
A fine of Rs 20 lakh was imposed on Amtek Auto for violating SAST norms and Rs 4 lakh for insider trading norms.
Amtek Auto is engaged in the manufacture of components such as connecting rod assemblies, flywheel ring gears and assembly, steering knuckles, suspension and steering srms, CV joints, crankshaft assemblies and torque links.
