Roselabs Finance has informed that by order dated December 23, 2019 (received by us on 30/12/2019), the Adjudicating Officer of the SEBI has confirmed the Show-Cause Notice dated December 15, 2009 issued by it alleging violation of the provisions of SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 and the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (collectively Regulations) and, in that regard, imposed upon the Company a penalty of Rs.2.54 Crores. The Order holds that alleged market and off market transactions that had purportedly been carried out by / at the behest of the previous management of the Company, to be in violation of the aforesaid provisions of the Regulations.
The above information is a part of company’s filings submitted to BSE.
