Cummins India's stock has gained 27 per cent since its lows in June, helped by a strong first quarter, expectation of improved demand and margin recovery.
Markets regulator Sebi has disposed of the adjudication proceedings against realty firm Sobha Ltd and four individuals following settlement in a case pertaining to alleged fraudulent trading and disclosure lapses. A settlement amount of Rs 2,92,50,000 has been paid by the four individuals. Among others, it was alleged that Sobha Ltd had misrepresented the receivables for the construction of residence of one D K Shivakumar (DKS) and misreported service tax/GST dues of the individual in three financial years -- 2016-17, 2017-18 and 2018-19. There was also the allegation about non-disclosure of change in accounting policy for the same during the said period, according to a settlement order passed by Sebi on Monday. Apart from Sobha Ltd, the proceedings were initiated against the company's Chairman and Executive Director Ravi Puthan Naduvakkat Chentha Maraksha Menon (noticee 2) and three others -- Jagdish Chandra Sharma (noticee 3), Ramakrishnan Prabhakaran (noticee 4) and Subhash Moha
Prior to his appointment as the Director (Human Resources), he was the Chief General Manager (Human Resource Development) in the public sector energy major
