Hikal settles case with Sebi, pays Rs 43.9 lakh

Mumbai: Hikal has settled a case of violation of listing and disclosure norms with Sebi by paying ₹43.9 lakh as settlement fee. Last year on August 22, Sebi issued a show cause notice to the chemical company, alleging failure to give adequate and timely disclosures and giving false misleading disclosures to stock exchanges in relation to seven events related to an incident which occurred due to illegal discharge of a hazardous chemical, Sodium Hydrosulphide, from a tanker.