Securities and Exchange Board of India on Wednesday slapped a penalty of Rs 50,000 on Zandu Pharmaceuticals for failing to appoint common share agency for demat and physical shares.
The penalty has been imposed under depository participant regulations, SEBI said in its adjudication order.
On December 8, 2003 SEBI had appointed an officer to inquire into and adjudge the alleged contravention, it said.
Source: PTI
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