SEBI Warns Sri Havisha Hospitality Over Failure to Disclose Material Liability in Percept Advertising Dispute
Sri Havisha Hospitality and Infrastructure Limited has received a formal warning from the Securities and Exchange Board of India (SEBI) concerning non-compliance with the provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations).The regulatory examination noted that the company failed to make the required disclosure regarding a pending liability arising from a dispute with Percept Advertising Limited. This outstanding liability was observed to exceed the materiality threshold specified under Regulation 30(4) of the LODR Regulations.
The warning addressed the lapse in compliance, noting that Sri Havisha Hospitality and Infrastructure Limited did not meet the provisions of Regulation 30 (4) of the LODR Regulations read with sub-para 8 of Part A of Schedule III of the LODR Regulations.
SEBI viewed this non-compliance seriously and advised the company to initiate corrective steps to ensure requisite disclosures are made. The entity was also instructed to disclose the warning letter to recognized stock exchanges in accordance with LODR Regulations, and to place the matter before its Board at its next meeting.
HAVISHA Stock Price Movement
Shares of Sri Havisha Hospitality and Infrastructure Limited are edging higher to ₹1.29 as of 1:44 PM today, rallying by 0.78% in live trading. The equity trades within its current day range, having touched a low of ₹1.25 and peaking at ₹1.30 during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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