FinanceRecent
Sebi slaps Rs 25 lakh fine on Citrus Check Inns directors
Economic Times — Markets✓
Original Reporting
AI EXECUTIVE SUMMARY
The Securities and Exchange Board of India (Sebi) has imposed a Rs 25 lakh penalty on three directors of Citrus Check Inns for disobeying its orders. The firm had unlawfully gathered funds from investors despite Sebi's prohibitory instructions. The directors claimed these collections were unintentional, attributed to agents and automatic setups. However, Sebi dismissed their argument, holding the directors accountable for the agents' actions.
The Securities and Exchange Board of India (Sebi) has imposed a Rs 25 lakh penalty on three directors of Citrus Check Inns for disobeying its orders. The firm had unlawfully gathered funds from investors despite Sebi's prohibitory instructions. The directors claimed these collections were unintentional, attributed to agents and automatic setups. However, Sebi dismissed their argument, holding the directors accountable for the agents' actions.
This story was originally reported by Economic Times — Markets. As an automated real-time news aggregator, NewsToolBar provides multi-perspective indexing and AI summarization while directing full readership directly to primary publisher sources.
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