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SEBI Bans Future CEO From Securities Market In Insider Trading Case
SEBI also barred Biyani from trading in Future Retail shares for two years. Future Corporate Resources and the two Biyani brothers will each need to pay a penalty of 10 million rupees ($137,099) within 45 days
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India s market regulator on Wednesday barred Future Group Chief Executive Kishore Biyani and his brother Anil from accessing the securities market for a year after investigating insider trading in shares of its retail firm Future Retail in 2017.
The Securities and Exchange Board of India (SEBI) said the two brothers traded in shares of Future Retail through a group company on the basis of unpublished price-sensitive information before a demerger of certain businesses of Future Retail that pushed its share price higher.
SEBI bans Future CEO Kishore Biyani from securities market in insider trading case orissapost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from orissapost.com Daily Mail and Mail on Sunday newspapers.
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Amazon Scores Win in India as Court Freezes Future s $3 4 Billion Retail Deal businessoffashion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessoffashion.com Daily Mail and Mail on Sunday newspapers.
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India s Future To Challenge Court Order Blocking Its Retail Deal In Dispute With Amazon
The appeal against that order is set to be filed later on Wednesday in the court, the source said, declining to be identified.
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India s Future Group will challenge a New Delhi court order that has blocked its $3.4 billion retail assets sale on objections of business partner Amazon.com Inc, a source told Reuters on Wednesday.
An Indian court blocked Future Group s sale of a swathe of assets to rival Reliance Industries on Tuesday after Amazon raised objections to the deal, in a battle of the retail titans that could reshape the shopping sector.