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Securities and Exchange Board of India (SEBI) has banned the directors of Geodesic Ltd and former owners of the Chandamama magazine from the securities market for a year for siphoning off $125 million raised through foreign currency convertible bonds (FCCBs).
Sebi on Thursday slapped a total fine of Rs 1.2 crore on six entities for diverting proceeds from the initial public offer of Birla Pacific Medspa Ltd (BPML) as well as for indulging in manipulative trading. A fine of Rs 20 lakh each has been imposed on Jalan Cement Works Ltd (now known as Aashrit Capital Ltd), Orbit Financial Consultants Pvt Ltd, Rupak Trading Pvt Ltd, Marutinandan Infosolutions Pvt Ltd, Sanjukta Vanijya Pvt Ltd and Darshan Tradelink Pvt Ltd. The regulator conducted a probe into the IPO of BPML for the period July 7 to July 15, 2011. The shares of BPML were listed on BSE ...