Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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SEBI Imposes Rs 35 Lakh Penalty On PTC India Financial Services Officials For Corporate Governance Lapses
SEBI & SCRA
SEBI has penalized Rajib Kumar Mishra and Pawan Singh of PTC India Financial Services for severe corporate governance lapses.
Mishra faces a Rs 10 lakh fine, while Singh has been fined Rs 25 lakh. Section 15HB of the SEBI Act, 1992 empowers SEBI to impose penalties for violations, including corporate governance norms. Singh, as MD, obstructed key appointments and delayed reporting loan fraud suspicions.
His actions undermined Board decisions and led to independent director resignations. Mishra, as non-executive chairman, failed to intervene, impacting company performance. SEBI's action restricts them from holding senior positions in listed companies or SEBI-registered entities: two years for Singh and six months for Mishra. The penalties reflect SEBI's zero-tolerance approach to governance failures.
