UPL, promoter Shroff settle Sebi case

United Phosphorus (UPL) and its main promoter Jaidev Shroff settled with Sebi by paying over Rs 20 crore for routing funds to artificially boost UPL's stock price in 2006. The settlement includes disgorgement of unfair gains, interest, and penalty, hence concluding the adjudication process.

Nov 1, 2024 - 02:30

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United Phosphorus (UPL) and its main promoter Jaidev Shroff settled with Sebi by paying over Rs 20 crore for routing funds to artificially boost UPL's stock price in 2006. The settlement includes disgorgement of unfair gains, interest, and penalty, hence concluding the adjudication process.