SEBI bans these 20 companies, gives ultimatum to return Rs 3.3 crore

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Capital market regulator SEBI (SEBI) has decided to take action against 20 companies due to violation of rules. While issuing the order, SEBI has asked the companies to return the money within the stipulated time.

Capital market regulator sebi

20 companies were accused of violating market rules by SEBI (SEBI). SEBI found different companies guilty of not following different rules. For this, on Friday, SEBI has issued orders to the companies and asked them to return Rs 3.3 crore by the time of the decision.

SEBI has issued this order after the investigation conducted by him between September 2011 to September 2012. Investigations found that BJ Investment and Financial Consultants and Eversight Tradecom, who were previously barred from doing business in the securities market, continued to operate, which is against the rules.

Companies cheated

SEBI says that the companies which were prevented from doing business transferred their funds to various stock brokers. Also, the market adopted a very curved way of doing business, so that SEBI can be cheated. In such a situation, these companies have violated the rules. During the period of investigation, 120 such occasions have come to light when transactions of money from the banned companies to the trading companies were done. In this, a total of 59 crore 67 lakh rupees were released. Therefore, instructions have been issued by SEBI to return Rs 3 crore 30 lakh 52 thousand 904 to 20 such companies.

Trading done through these companies

SEBI says that the companies that were stopped from trading in the market were transacting the money directly through other trading companies like Nilanchal Mercatile, Dibrishti Merchants and Divyadarsh ​​Traders. In some cases, he also indirectly transferred money through some other means. Among these, Stupenders Traders Pvt. Ltd. and Flex Trade Pvt. Ltd. Is included.

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Bhagyashree Soni
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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