Page 18 - Banking Finance December 2018

U UA UN

M t a n sett es ase ith e i
es Ban pro oters pre
r dentia M t a nd has sett ed a case of io ation of t a f nd r es
pa Rs rore to t o
ith the e i. he case pertains to a ar e in est
t a f n ho ses ent ade r dentia M t a nd in the
f op initia p ic offerin of affi iate e
he pro oters ade a partia pre
c rities td. ec rities had to c t its initia p
pa ent on
ic offerin si e to Rs. 2 crore fro the ori i
crore
na tar et of Rs. 7 crore eca se of poor in es
of non con
tor interest. f this a ar e ch n as o ht M t a nd.
erti e de
e n t r e s o o in the ar e in est ent e i a nched a pro e to ascertain if the f nd
he d Re i ho se is in io ation of the ode code of cond ct prescri ed in e i t a f nd
ance M t a nd and ran in nor s. he f nd ho se sett ed the offence for Rs. . a h and the ana in
e p eton M t a nd accordin director and chief e ec ti e officer of the f nd ho se sett ed the offence for
to so rces. Re iance M t a nd is Rs. . a h. n the ar et re ator had a so directed the f nd ho se to
said to e ne otiatin o er the re ret rn Rs.2 crore at interest to the in estors of the sche e hich had
pa ent of crore a ainst s in ested in the initia p ic offerin . e i had fo nd that the actions of the f nd
iss ed Mor an redits M ho se its chief e ec ti e officer and the respecti e f nd ana ers ere not in
the interest of nit ho ders.
Ban s co fo nder Rana
apoor s ho din co pan . as a so in io ation of t a f nd r es re ated to the code of cond ct
and d e di i ence in re isin its ids and p ttin in ore one to he p sa e
o e er the one is et to e
the ec rities on the ast da after hich e i appointed an ad di
credited into the Re iance M t a
catin officer for pena ties and directions.
nd acco nt said t o so rces fa
i iar ith the atter. Mor an
redits has not et inti ated s of M sett es t a f n io ation ase for Rs .7
an ne pdate said Re ati rore
ast ri senior director at redit
M and r stee o pan sett ed a case of a e ed io ation of
Ratin s. hene er an thin ne
t a f nd nor s ith the ec rities and chan e Board of ndia e i
pre pa ents or repa ents hap
pa in Rs .7 crore as sett e ent fee. he so ca ed consent echanis a
pens the iss er approaches its
o s the entities to sett e io ations pa in a pena t itho t ad ission or
credit ratin co pan on hen
denia of i t. he re ator had initiated ad dication proceedin s a ainst
the one reaches the in estor s
sset Mana e ent o pan and r stee o pan in pri for a e ed
an acco nt.
io ations of se era pro isions of t a f nd re ations.
1 | 201 | DECEMBER | B CE