Indiabulls Ventures up 9%

Indiabulls Ventures has risen 9% to Rs.369 today and it remains firmly in the green.

The stock price is up today after news came in that its promoter, Sameer Gehlaut and five other promoters, settled a case with SEBI. This pertains to a probe into the alleged violation of 'takeover regulations' after paying Rs 48 lakh towards settlement fee.

The promoters approached SEBI with a plea to settle the matter without admitting or denying the findings of fact and conclusions of law. Post this, SEBI disposed the adjudication proceedings initiated against the entities after the entities paid Rs 48 lakh as settlement fee.