Stock Report

SEBI levies Rs. 1 crore penalty on HDFC Bank

Posted On : 2021-01-22 10:20:12( TIMEZONE : IST )

SEBI levies Rs. 1 crore penalty on HDFC Bank

Securities & Exchange Board of India ("SEBI"), vide its Final Order dated January 21, 2021 ("the Order"), has levied a monetary penalty of Rupees One Crore payable by the Bank in terms of Section 15HB of the SEBI Act, in the matter of M/s. BRH Wealth Kreators Limited, for non-compliance with the Interim Order issued by SEBI concerning the said matter.

Further, the Bank has been directed vide the Order to transfer an amount of Rs. 158.68 crore along with interest from October 14, 2019 till date, calculated at the rate of 7% p.a. to an interest bearing Escrow Account in any nationalized bank, by marking a lien in favour of SEBI, until the issue of settlement of clients' securities (clients of the stockbroker) is reconciled.

Shares of HDFC Bank Ltd was last trading in BSE at Rs.1473.9 as compared to the previous close of Rs. 1490.95. The total number of shares traded during the day was 1307764 in over 10700 trades.

The stock hit an intraday high of Rs. 1496.05 and intraday low of 1468.8. The net turnover during the day was Rs. 1925883870.

Source : Equity Bulls