January 31, 2014 / 12:20 PM / in 4 years

CORRECTED-India regulator imposes small penalty on Unilever

(Corrects to say the fine was related to disclosures on its shareholding of its domestic unit, not an open offer for its domestic unit)

MUMBAI, Jan 31 (Reuters) - India’s capital markets regulator fined Unilever Plc 5 million rupees ($79,800) for being late in making certain disclosures tied to its share ownership in its domestic unit Hindustan Unilever Ltd last year.

Securities and Board Exchange of India (SEBI) said Unilever, had delayed filing disclosures related to its shareholding in Hindustan Unilever in 2006, 2008, 2009, 2010 and 2013.

The regulator said it came across the omissions when Unilever initiated an open offer for the domestic unit.

The Anglo-Dutch consumer goods company had acquired a little over two-thirds of its Indian unit last year for about 2.45 billion euros.

A Hindustan Unilever official was not immediately reachable for comment. SEBI said on Friday Unilever had admitted to the omissions in disclosures but had said the delays were inadvertent in nature.

$1 = 62.6750 Indian rupees Reporting by Himank Sharma; Editing by Rafael Nam

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below