UPDATE 1-India regulator imposes small penalty on Unilever
MUMBAI Jan 31 (Reuters) - India's capital markets regulator fined Unilever Plc 5 million rupees ($79,800) for being late in making certain disclosures tied to its share ownership in its domestic unit Hindustan Unilever Ltd last year.
Securities and Board Exchange of India (SEBI) said Unilever, had delayed filing disclosures related to its shareholding in Hindustan Unilever in 2006, 2008, 2009, 2010 and 2013.
The regulator said it came across the omissions when Unilever initiated an open offer for the domestic unit.
The Anglo-Dutch consumer goods company had acquired a little over two-thirds of its Indian unit last year for about 2.45 billion euros.
"There was no change in Unilever's shareholding between March 2005 to April 2013 and therefore, there was no unfair benefit attained nor was any harm caused to the investors or public at large due to the delayed disclosure," a Unilever spokesperson said in a statement.
SEBI said on Friday Unilever had admitted to the omissions in disclosures but had said the delays were inadvertent in nature.
- Tweet this
- Share this
- Digg this
- Alabama man claims penis was amputated by mistake
- French warplanes search Mali desert for crashed Air Algerie plane
- REFILE-Minnesota man asked to leave Southwest flight after critical tweet
- UPDATE 7-French warplanes search Mali desert for crashed Air Algerie plane
- Iraq elects president as Ban urges unity to save nation
India blocked an agreement on new global customs rules on Thursday, angering fellow members of the World Trade Organization who say Delhi's veto could be costly, economically and politically. Full Article