Bharti Airtel's promoter Indian Continent Investment pays Rs 2.17 lakh to settle case with Sebi
Bharti Airtel's promoter Indian Continent Investment had failed to make disclosure of its shareholding in the telecom company crossing 5% in April 2008, which prompted Sebi to initiate a probe and has now settled the case by paying Rs 2.17 lakh to Sebi.
As a result, Indian Continent Investment's shareholding in Bharti Airtel crossed 5% on April 29, 2008, requiring it to make necessary disclosures under Prohibition of Insider Trading (PIT) Regulations. Representational Image. Image Source: Reuters