Securities and Exchange Board of India (Sebi) has slapped Rs 7 lakh fine on Jaypee Infratech for disclosure lapses. The company did not make disclosures with regard to series of non-convertible debt (NCD) securities issued and listed by it, as required under market norms. Besides, it failed to inform BSE of the default in payment of interest/principal in respect of various series of NCDs, apart from other disclosure lapses.
Jaypee Infratech is diversified infrastructure conglomerate with business interests in Engineering & Construction, Power, Cement, Real Estate, Hospitality, Expressways, Sports & Education (not-for-profit).
