The National Highways Authority of India (NHAI) has been penalised with amount of Rs 7 lakh by the Securities and Exchange Board of India (SEBI). SEBI has imposed the penalty on NHAI for delay in disclosing half yearly financial results between FY16 and FY19. The penalty has been imposed on the basis of SEBI’s listing obligation and disclosure norms (LODR) according to which half yearly results have to be filed within 45 days from the end of the half year.
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The National Highways Authority of India (NHAI) delayed in disclosing half yearly financial results ranging from 4 days to 78 days.
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