Blue Coast Hotels pay Rs 89.3L to settle case with Sebi

New Delhi: Blue Coast Hotels and its promoter on Wednesday settled with markets regulator Sebi a case of alleged violation of disclosure norms after collectively paying Rs 89.3 lakh towards settlement charges. The settlement came after the applicants (Blue Coast Hotels Ltd and its promoter and whole-time director Kushal Suri) proposed to settle the instant proceedings initiated against them, “without admitting or denying the findings of facts and conclusions of law”. The order came after NSE submitted an examination report highlighting multiple irregularities in Blue Coast Hotels Ltd’s financials for FY19 to FY22.