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United Spirits has settled a case with SEBI of alleged violation of takeover norms regarding share purchase in Pioneer Distilleries. According to a SEBI order, the leading brewer, currently the promoter of Pioneer Distilleries, paid ₹8.19 lakh towards settlement of the alleged default. In February 2016, USL had sought to settle the proposed adjudication proceedings to be initiated by the regulator whose High Powered Advisory Committee in July had recommended the case for settlement.
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