15 March 2022, Mumbai:
Sebi fines Future Ent for non-disclosure.
Markets regulator Sebi has slapped a Rs 5- lakh penalty on Future Enterprises for the delay in disclosing to its shareholders that Amazon had initiated an ar bitration proceeding against Future Group, the promoter of the Indian entity after its promoters signed a deal with Reliance Industries for the takeover of the company.
ALSO READ: RIL to buy Future Group’s retail assets at original price
Sebi, however, couldn't quantify the extent of the loss to investors due to this non-disclosure.
RELATED ARTICLE Future Group refuses to implement Amazon’s investment in Future Coupons
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CREDITS: TNN & ET dt 15-03-2022 (The news article has not been edited by DFU Publications staff).
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