Security and Intelligence Services (India) (SIS) has settled with the Securities and Exchange Board of India (SEBI) a case of an alleged violation of public issue norms by paying over Rs 36 lakh towards settlement charges.
The regulator had initiated proceedings and sent notice to the company in April 2017 wherein it was alleged that SIS had issued and allotted equity shares to more than 49 persons on nine occasions from April 1988 till February 2012 (mostly to its employees) due to preferential allotment or stock options.
SIS is a leading provider of private security and facility management services in India.
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