Markets regulator Sebi has imposed a penalty of Rs 3 lakh on CB Management Services for delaying the process of issuance of duplicate shares and failing to process transmissions of stocks within the time limit. Also, it had not maintained signature records of shareholders in certain companies.
CB Management Services, Registrar to an Issue and Share Transfer Agent, has been asked to pay the fine within 45 days, the Securities and Exchange Board of India (Sebi) said in an order on Tuesday.