Context:
Fino Payments Bank has settled a securities law violation case with the Securities and Exchange Board of India (SEBI) by paying a settlement amount of ₹5.8 lakh.
Details of the Case
- Issue:
- The case pertained to non-disclosure of material information regarding fraudulent activities committed by certain employees, which is a violation under SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations.
- Violation:
- Fino Payments Bank allegedly failed to promptly inform the stock exchanges about incidents of internal fraud — a material event that could impact investor decisions.
