REC LTD - Deposit Of Penalty Amount To SEBI (IPEF) For Inadvertent Trade In Equity Shares Of REC By A Designated Person, During Period Of Closure Of Trading Window

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REC Ltd - Deposit Of Penalty Amount To SEBI (IPEF) For Inadvertent Trade In Equity Shares Of REC By A Designated Person, During Period Of Closure Of Trading Window

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24 Nov 2020
This is in furtherance of our letter dated November 9, 2020 informing about inadvertent trade in equity shares of REC by Shri Praveen Kumar Singh, Nominee Director of Power Finance Corporation Limited, during period of closure of Trading Window. <BR> <BR> In this regard, it is informed that as per directions of the Board of Directors in the Meeting held on November 6, 2020, Shri Praveen Kumar Singh had disposed off 2,500 equity shares of REC (purchased by him on October 5, 2020) on November 11, 2020 and furnished a cheque of Rs. 34,855/- dated November 13, 2020, being the penalty amount equivalent to the amount of profit earned against this transaction.<BR> <BR> Further, in compliance with SEBI Circular dated July 23, 2020, it is informed that REC has transferred the said amount of Rs. 34,855/- to the dedicated Bank Account of SEBI (Investor Protection and Education Fund) on November 20, 2020 vide UTR N325201315170646.
View all announcements for REC Ltd	Source: BSE India

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