SEBI has fined Samir and Meera Jain for not fully disclosing their ownership of two listed companies that hold shares in Bennett Coleman and Co. The Jains want you to think otherwise.
On 28 March, the Securities and Exchange Board of India put out two similarly worded orders on two different companies that are listed on the Calcutta Stock Exchange. Both the orders fined and passed strictures against Samir Jain, the vice chairman and managing director of privately owned Bennett Coleman and Co. Ltd, better known as the Times Group.
The SEBI orders were in respect of Camac Commercial and PNB Finance and Industries, which together own 21.59% of BCCL, the publisher of The Times of India. Apart from Samir Jain, the orders also fined his wife Meera and daughter Trishala and …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai