Latest News | Bigshare Services Pays over Rs 68 Lakh to Settle Case with Sebi

New Delhi, Mar 7 (PTI) Bigshare Services Pvt Ltd has settled with capital markets regulator Sebi a case on alleged violation of rules prescribed for Registrars to an Issue and Share Transfer Agent (RTA).

The entity paid Rs 68.25 lakh towards settlement charges to the regulator, according to an order passed by Sebi on Friday.

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The order comes after Bigshare Services approached Sebi proposing to settle the matter "without admitting or denying the findings of fact and conclusions of law," through a settlement order.

Accordingly, in a settlement order, Sebi said "the pending enforcement proceeding for the alleged defaults ... are settled".

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The regulator, in its show-cause notice issued to Bigshare Services, alleged that the entity flouted the Code of Conduct as prescribed by RTA/STA (Registrars to an Issue and Share Transfer Agent regulations) norms.

The observations came after the Securities and Exchange Board of India (Sebi) had conducted two inspections of the firm to ascertain regulatory compliance and issues handled by a Registrar to Issue and Share Transfer Agent from January 2013 to December 2014.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)