SEBI imposes Rs 1 crore penalty on Classic Global Finance

Market regulator Securities and Exchange Board of India (SEBI) has imposed a fine of Rs 1 crore on Classic Global Finance & Capital for failing to redress investor complaints within the required time frame.

In spite of providing opportunity to the company for personal hearing, there was no response from it and the firm also did not refute the charges. The company was already registered with regulator's online complaint redressal system, SCORES.