SEBI said Coffee Day must pay the fine in 45 days
Coffee Day Enterprises was fined Rs 26 crore ($3.2 million) by the markets watchdog for failing to recover dues from a sister concern, an order published on the regulator's website showed on Tuesday.
The Securities and Exchange Board of India (SEBI) also asked Coffee Day to recover Rs 3,535 crore from Mysore Amalgamated Coffee Estates Ltd and other connected entities.
These funds were diverted from the company and its seven subsidiaries causing losses to the shareholders, it added.
The fine has to be paid in 45 days.
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