Sebi bars Bombay Dyeing, Ness Wadia, others from securities market for up to 2 yrs; imposes fines of Rs 15.75 cr | Economic Times

Sebi bars Bombay Dyeing, Ness Wadia, others from securities market for up to 2 yrs; imposes fines of Rs 15.75 cr https://ifttt.com/images/no_image_card.png"The planned reduction of shareholding in Scal to 19 per cent to avoid consolidation of financial statements of Scal, execution of non-genuine sales to Scal through MoU's, granting deferment of payment to Scal (and not any other bulk buyer), inflation of sales and profit of BDMCL, non-realization of payments from Scal etc, were all different legs of the broad 'scheme of fraud' perpetrated under the supervision and control of Noticee no. 3, 4 and 5, (Wadias) while they were at the helm of affairs at BDMCL," Sebi noted.