Sebi has barred Urja Global and four individuals from the securities market for various disclosure lapses and also directed the firm to obtain a practicing company secretary's certificate of authenticity for corporate announcements to be made in the next three years.
The directions are part of a 56-page order passed by the watchdog about the matter back in March 2021. Sebi, which examined the period from April 2018 to August 2019, found alleged lapses, including making an artificial scheme for a corporate announcement in connection with Nippon Shinyaku, which was false and misleading. Various other disclosure lapses were also observed.
Urja Global is in one of India’s leading Non Renewable and Renewable Energy developers and operators.
