HDFC Bank share price stalls as SEBI imposed 1 crore penalty

In an order released on January 21, 2021, a monetary penalty of Rs 1 crore was laid on HDFC Bank payable in terms of Section 15HB of the SEBI Act for its non-compliance of an interim order concerning M/s. BRH Wealth Kreators Limited.

Responding to the news, the stock of HDFC Bank listed on the National Stock Exchange (NSE), stalled Rs 13.75 by 0.93% bringing the bank’s share price to Rs 1,461.05.

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The bank was also ordered to pay an amount of Rs 158.68 crore with interest curating back from October 14, 2019.

SEBI (Securities & Exchange Board of India) is owned by the Government of India and is the regulator of the securities and commodities market. It was established on April 12, 1988, and given Statutory Powers on January 30, 1992, through the SEBI Act.