Stock Manipulation: SEBI Imposes Rs45 Lakh Penalty on 9, Including Promoters and MD of Gokul Solutions, Asks 6 To Disgorge Unlawful Gains of Rs2.28 Crore
Market regulator Securities and Exchange Board of India (SEBI), while imposing a total penalty of Rs45 lakh on nine entities, including the company, its promoter and managing director (MD) and non-executive director, directed six of them to disgorge Rs2.28 crore, the unlawful gains earned by manipulating the share price of Gokul Solutions Ltd (GSL), with an interest of 12%pa (per annum). SEBI also barred these nine entities from markets for six months.
Source: moneylife.in
