Swaraj Green Power and Fuel Ltd has paid Rs6.20 lakh to settle enforcement proceedings with the market regulator Securities and Exchange Board of India (SEBI) related to the company’s issuance of non-convertible redeemable preference shares (NCRPS). The settlement resolves alleged violations under Section 42(11) of the Companies Act, 2013, of the Share Capital & Debentures Companies (Prospectus and Allotment of Securities) Rules, 2014, related to the NCRPS issued by Swaraj Green Power during the financial year (FY)14-15. During FY14-15, Swaraj Green Power and Fuel issued a total of 14,102,329 NCRPS through two rights issues 10,014,700 shares allotted in January 2015 and 4,087,629 shares allotted in March 2015. Due to the renunciation of rights by existing shareholders in favou

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