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News Details

Asian Paints Ltd. - Updates

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04/03/2016 19:21
Asian Paints Ltd has informed BSE that:

"This is to inform you that the Company has issued a notice to M/s. Sharepro Services (India) Pvt. Ltd., Company's Registrar & Transfer Agent, (hereinafter referred to as "Sharepro Services") for termination of the Agreement entered into with Sharepro Services, w.e.f. 1st April, 2016.

The Company had discovered certain irregularities at Sharepro Services, w.r.t. the share related operations and dividend encashment activities.

After conducting preliminary internal investigations, the Company had filed a complaint with the Police department against Sharepro Services and its employees, for further investigation, which was converted into an FIR.

The Company is in the process of evaluating other Registrar & Transfer Agents for a smooth transition and will make necessary disclosures on any development in this regard.

This is without prejudice to the Company's rights to initiate appropriate civil and criminal proceedings against Sharepro Services and its employees."