SEBI has imposed a penalty of Rs. 3,00,000 on CG Vak Software & Exports and Rs 5,00,000 on Mr. G. Suresh, the Managing Director of the Company for delay in disclosures in two occasions under SEBI (Prohibition of Insider Trading) Regulations, 1992 and under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. The Company has decided to appeal the order of Adjudicating Officer with Securities Appellate Tribunal within the prescribed time.
CG-VAK Software & Exports is a global software service provider headquartered in Coimbatore. Incepted in 1995, with operations in USA, Canada and Middle East the company specializes in outsourced product development, helping software companies in developing and maintaining software products. It delivers cutting edge solutions with latest to legacy technologies
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