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Saregama India Limited ( (IN:SAREGAMA) ) just unveiled an announcement.
Saregama India Limited announced that it received a final order from the Appellate Tribunal under SAFEMA, reducing a penalty from Rs. 10,00,000 to Rs. 2,00,000. This penalty was initially imposed due to delayed filing of Annual Performance Reports for its subsidiary in Mauritius, attributed to unforeseen circumstances like fire and staff attrition. The reduction in penalty signifies a positive outcome for Saregama, indicating minimal financial impact as the penalty will be adjusted against a pre-deposit.
More about Saregama India Limited
Saregama India Limited operates in the entertainment industry, primarily focusing on music production and distribution. It is known for its extensive catalog of Indian music and has a significant market presence in the Indian music industry.
YTD Price Performance: 16.79%
Average Trading Volume: 26,044
Current Market Cap: 107.1B INR
For a thorough assessment of SAREGAMA stock, go to TipRanks’ Stock Analysis page.