PAUL MERCHANTS LTD - INTIMATION UNDER REGULATION 30 OF SEBI (LISTING OBLIGATIONS & DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 ('SEBI LODR Regulations')

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Paul Merchants Ltd - INTIMATION UNDER REGULATION 30 OF SEBI (LISTING OBLIGATIONS & DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 ('SEBI LODR Regulations')

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17 Nov 2020
Pursuant to Regulation 30 of the SEBI LODR Regulations, we hereby inform you that Directorate of Enforcement, Southern Regional Office, Government of India vide its Order No. ADE/SRO/CEZO-I/20/2020 dated 29th October, 2020 received by us on 16th November, 2020 had imposed an Aggregate Penalty of Rs. 3,60,00,000/- (Rupees Three Crore Sixty Lakh Only) on the Company for contravention of provisions of Sections 3 (a), 10 (4) and 10 (5) of the Foreign Exchange Management Act, 1999 and KYC norms in connection with certain transactions of sale of Foreign Currency Travel Cards conducted by Four Branches of the Company in the State of Tamil Nadu.
View all announcements for Paul Merchants Ltd	Source: BSE India

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