The Securities and Exchange Board of India (Sebi) has levied a penalty of Rs 10 lakh on Bajaj Hindusthan Sugar for not disclosing closure orders with respect to its certain distilleries and imposition of penalty by Central Pollution Control Board. The company has been directed to pay the fine within 45 days.
The order came after the regulator received a complaint through SCORES against Bajaj Hindusthan Sugar, whereby the complainant raised concerns regarding false reporting/misreporting in the annual report in respect of Show Cause Notices (SCNs) issued by Pollution Control Board.
Bajaj Hindusthan Sugar (BHSL), a part of the ‘Bajaj Group’, is India’s Number One sugar and ethanol manufacturing company, headquartered at Mumbai (Maharashtra), India.