Elcid Investments settles disclosure lapses case with Sebi, pays Rs 17.3L

Elcid Investments Ltd has reached a settlement with the markets regulator Sebi regarding a case involving the failure to maintain a structured digital database and disclosure lapses. The company paid Rs 17.31 lakh towards the settlement amount. Elcid Investments applied with the Securities and Exchange Board of India (Sebi) to request settlement of the adjudication proceedings for the alleged violations through a settlement order.

According to the show cause notice, the regulator claimed that Elcid Investments failed to maintain a structured digital database during the investigation period. Additionally, the company did not disclose Jatin Saraiya's joint shareholding of 50 shares with his spouse for the quarters ending in December 2021 to June 2022.