The markets regulator disposed of the interim order-cum-show cause notice issued on June 19, 2024 without passing any further directions.
SEBI noted that the open offer had since been completed and that the Burman Group had assumed control of REL.
Therefore, the principal issue underlying the proceedings had already been resolved.
“Consequently, where the alleged irregularity has already been cured and the corrective steps have been fully implemented, the very object of a remedial direction stands satisfied,” the July 31 order said.
The markets regulator disposed of the interim order-cum-show cause notice issued on June 19, 2024 without passing any further directions.
SEBI noted that the open offer had since been completed and that the Burman Group had assumed control of REL. Therefore, the principal issue underlying the proceedings had already been resolved.
“Consequently, where the alleged irregularity has already been cured and the corrective steps have been fully implemented, the very object of a remedial direction stands satisfied,” the July 31 order said.
