NEW DELHI: Coffee Day Enterprises Ltd, which owns and operates the Cafe Coffee Day chain, on Tuesday settled a case pertaining to violation of disclosure norms with markets regulator Sebi on payment of Rs 7.52 lakh towards settlement charges.
This came after the company approached Sebi, proposing to halt the instant proceedings initiated against it, "without admitting or denying the findings of facts" through a settlement order.
"In view of the acceptance of the settlement terms and the receipt of the settlement amount... the instant adjudication proceedings initiated against the noticee vide SCN ... is disposed of," the Securities and Exchange Board of India (Sebi) said.
The regulator had initiated adjudication proceedings against Coffee Day Enterprises for the alleged violation of provisions of Sebi's LODR (Listing Obligations and Disclosure Requirements) rules.