India, Jan. 17 -- Markets regulator Sebi on Thursday imposed a fine totalling Rs 9 lakh on Zee Media Corporation and its promoter entity 25FPS Media for shareholding disclosure lapses.
The regulator has levied a fine of Rs 6 lakh on 25FPS Media Private Limited and Rs 3 lakh on Zee Media Corporation Ltd (ZMCL), Securities and Exchange Board of India (Sebi) said in an order.
The order comes after Sebi received a reference from Zee Media Corporation, wherein it informed the regulator regarding non-compliance of PIT (Prohibition of Insider Trading) Regulations by 25FPS during the period April 8 to April 23, 2019.
Following this, the regulator conducted examination in the scrip of ZMCL from April 8, 2019 to April 26, 2019 to ascertain whether...