<p>Markets regulator Sebi on Friday imposed a fine of Rs 15 lakh on Mishtann Foods Ltd for non-compliance with its directives.</p>.<p>In February, Sebi warned the company to be careful in resolving investors' complaints within the timeline as specified in the circulars issued by the regulator from time to time.</p>.<p>Besides, the company was directed to take urgent steps to resolve pending complaints.</p>.<p>Mishtann Foods was earlier known as HICS Cements Ltd.</p>.<p>However, the watchdog observed that only in August that the company issued letters to investors regarding their complaints. A majority of the complaints pertained to non-receipt of shares after conversion/ endorsement/ consolidation/ splitting, as per the order issued on Friday.</p>.<p>In a separate order on Friday, the regulator imposed a fine of Rs 10 lakh on Prudent Broking Services Pvt Ltd (PBSL) for misusing clients' funds and securities.</p>.<p>PBSPL is a Sebi-registered stockbroker and depository participant.</p>.<p>The inspection team of Sebi found that the broker has misutilised the funds of credit balance clients for debit balance clients and also failed to maintain segregation of clients' funds.</p>.<p>Besides, it had not settled the accounts for 26 inactive clients and the amount of non-settlement of credit balance funds was Rs 13.08 lakh, according to the order.</p>.<p>Sebi also said the broker had not submitted the daily reconciliation statement at the time of inspection to the inspection team.</p>.<p>Separately, Sebi on Friday levied a penalty of Rs 2 lakh on Sai Prakash Properties Development Ltd for its failure to comply with the summons issued by the regulator.</p>.<p>In another case, the regulator on Friday slapped a Rs 2 lakh fine on N G Export Industries Ltd for its failure to obtain SCORES authentication and non-redressal of the pending grievances of fourteen investors within the specified timeline.</p>.<p>Sebi has also imposed a fine of Rs 1 lakh on eight individuals and the amount is payable jointly or severally for disclosure lapses in the matter of Centum Electronics Ltd, as per an order passed on Friday.</p>.<p>In a separate order, the regulator imposed a penalty of Rs 1 lakh on an individual for disclosure lapses while dealing with the scrip of Equitas Small Finance Bank Ltd.</p>.<p>P Selvamani, being a senior employee of Small Finance Bank Ltd, in the instant case had failed to intimate the company within the stipulated period about a sale transaction of the company's shares, Sebi said in the order issued on Friday.</p>
<p>Markets regulator Sebi on Friday imposed a fine of Rs 15 lakh on Mishtann Foods Ltd for non-compliance with its directives.</p>.<p>In February, Sebi warned the company to be careful in resolving investors' complaints within the timeline as specified in the circulars issued by the regulator from time to time.</p>.<p>Besides, the company was directed to take urgent steps to resolve pending complaints.</p>.<p>Mishtann Foods was earlier known as HICS Cements Ltd.</p>.<p>However, the watchdog observed that only in August that the company issued letters to investors regarding their complaints. A majority of the complaints pertained to non-receipt of shares after conversion/ endorsement/ consolidation/ splitting, as per the order issued on Friday.</p>.<p>In a separate order on Friday, the regulator imposed a fine of Rs 10 lakh on Prudent Broking Services Pvt Ltd (PBSL) for misusing clients' funds and securities.</p>.<p>PBSPL is a Sebi-registered stockbroker and depository participant.</p>.<p>The inspection team of Sebi found that the broker has misutilised the funds of credit balance clients for debit balance clients and also failed to maintain segregation of clients' funds.</p>.<p>Besides, it had not settled the accounts for 26 inactive clients and the amount of non-settlement of credit balance funds was Rs 13.08 lakh, according to the order.</p>.<p>Sebi also said the broker had not submitted the daily reconciliation statement at the time of inspection to the inspection team.</p>.<p>Separately, Sebi on Friday levied a penalty of Rs 2 lakh on Sai Prakash Properties Development Ltd for its failure to comply with the summons issued by the regulator.</p>.<p>In another case, the regulator on Friday slapped a Rs 2 lakh fine on N G Export Industries Ltd for its failure to obtain SCORES authentication and non-redressal of the pending grievances of fourteen investors within the specified timeline.</p>.<p>Sebi has also imposed a fine of Rs 1 lakh on eight individuals and the amount is payable jointly or severally for disclosure lapses in the matter of Centum Electronics Ltd, as per an order passed on Friday.</p>.<p>In a separate order, the regulator imposed a penalty of Rs 1 lakh on an individual for disclosure lapses while dealing with the scrip of Equitas Small Finance Bank Ltd.</p>.<p>P Selvamani, being a senior employee of Small Finance Bank Ltd, in the instant case had failed to intimate the company within the stipulated period about a sale transaction of the company's shares, Sebi said in the order issued on Friday.</p>