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Tag: Sebi recovery notice Midvalley Entertainment directors

Sebi Issues Rs 98 Lakh Recovery Notice To Midvalley Entertainment, Its Directors
Entertainment

Sebi Issues Rs 98 Lakh Recovery Notice To Midvalley Entertainment, Its Directors

By PTI Sep 05, 2022, 11:51 PM IST (Updated)MiniSebi has directed the entities to pay Rs 98.88 lakh, which includes interest and recovery costs within 15 days. In the event of non-payment, it will recover the amount by attaching and selling their movable and immovable properties.Sebi has sent a notice to eight entities and asked them to pay over Rs 98 lakh in a case pertaining to misutilisation of the IPO proceeds in the matter of Midvalley Entertainment Ltd (MVEL).The notice came after Midvalley Entertainment and its directors failed to pay the penalty imposed on them by the Securities and Exchange Board of India (Sebi).Sebi has directed the entities to pay Rs 98.88 lakh, which includes interest and recovery costs within 15 days. In the event of non-payment, it will recover the amount by a...