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The Economic Times
The Economic Times

Sebi settles case against India Power Corp's Raghav Raj Kanoria for Rs 24.7 lakh

SEBI The Securities and Exchange Board of India

Markets regulator Sebi on Wednesday settled adjudication proceedings against India Power Corporation Ltd (IPCL) Managing Director Raghav Raj Kanoria after he paid Rs 24.7 lakh as settlement amount in a case related to alleged misreporting of the company's financial statements.

The proceedings pertained to alleged misstatement and misrepresentation of IPCL's financial statements for 2022-23 and 2023-24 over non-recognition of Expected Credit Losses (ECL) on certain receivables and unsecured loans.

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