Godfrey Phillips India gets warning from SEBI for rule flouting

Godfrey Phillips India Ltd (GPI) received an administrative notice of warning issued by the Securities and Exchange Board of India (SEBI) for violating a host of rules. The development is the result of constant grilling of the company's workings and corporate governance norms. SEBI's notice is likely the result of recent events, such as a designated person buying company shares unauthorizedly during an open trading window. The warning is the latest in GPI's regulatory woes, after a recent ₹166 crore GST notice and a settlement with the U.S. Treasury Department for North Korea sanctions violations. The company has yet to comment on SEBI's warning and its intentions regarding the alleged regulatory violations.
Source: Business Standard