Yes Bank, Goldman pay up
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New Delhi: Private sector lender Yes Bank and Goldman Sachs on Friday settled a Sebi probe into alleged violation of listing and disclosure norms as well as merchant banker regulations, respectively.
Individually, Yes Bank has paid Rs 40.8 lakh, while Goldman Sachs (India) Securities has remitted Rs 20.80 lakh towards settlement fees, the regulator said in separate orders.
Sebi agreed to settle proposed adjudication proceedings in the case, pertaining to alleged violation of listing and disclosure requirements as well as code of conduct for merchant bankers after it was approached by Yes Bank and Goldman Sachs, respectively, with a plea under the settlement regulations.
Under the settlement, an entity is allowed to settle charges by paying a penalty without admission or denial of guilt. In the settlement order passed on Friday, Sebi said it has disposed of the adjudication proceedings initiated against Yes Bank and Goldman Sachs.
Sebi had initiated adjudication proceeding against both the entities in December 2016.
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