Indian regulator bars Kishore Biyani from securities market for insider trading
Kishore Biyani (Livemint)
February 4, 2021
India’s markets regulator on Wednesday barred Future Group founder Kishore Biyani and several related entities, including his brother Anil, from accessing the securities market in an insider trading case dating back to 2017.
Biyani, a pioneer of Indian retail, has also been barred from transacting in securities of Future Retail for two years. The regulator said it reached the decision after a probe into the 2017 case pertaining to the use of unpublished price-sensitive information to trade in Future Retail shares.
The decision comes even as Biyani’s sale of his businesses to Mukesh Ambani’s Reliance Retail is facing legal challenges from Amazon.com Inc.
Retired teachers get financial aid amid COVID-19
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Welfare Trust has provided welfare facility as it sent financial assistance
through ‘Electronic Funds Transfer (EFT)’ to the retired teachers amid the
coronavirus (COVID-19) crisis.
benefits of over Taka 224.74 crore through EFT as the money has been sent to
the respective accounts of these retired teachers, according to a statement
signed by Md Abul Bashar, deputy director of Non Government Teachers and
Employee Welfare Trust, received here today.
The respective money was given in the last 4 months (October, 2020 to
January, 2021) to provide maximum service to these teachers under the slogan
‘Promise of Mujib Year – Disposal of Welfare Benefits Quickly (Mujib Borsher
SEBI bans Future Group s Kishore Biyani, others from securities market for one year over insider trading In addition, the regulator has imposed a fine of Rs one crore each on Kishore Biyani, Anil Biyani and Future Corporate Resources and ordered them to pay back Rs 17.78 crore with interest File image of Kishore Biyani. PTI
New Delhi: SEBI on Wednesday barred Kishore Biyani and certain other promoters of Future Retail Ltd from the securities market for one year for indulging in insider trading in the shares of the company.
Apart from Kishore Biyani, who was the CMD and promoter of Future Retail Ltd (FRL), others facing the ban are Future Corporate Resources Pvt Ltd, Anil Biyani and FCRL Employee Welfare Trust.
Kishore Biyani, 7 Others Barred from Securities Market for 1 Year by SEBI
Moneylife Digital Team
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Market regulator Securities and Exchange Board of India (SEBI) has barred for one year, Kishore Biyani, the chief of Future group, Future Corporate Resources Pvt Ltd and three others from accessing securities market in any manner. The SEBI order is related with alleged insider trading in Future Retail Ltd during March and April 2017. SEBI also barred FCRL Employee Welfare Trust, Anil Biyani, Rajesh Pathak, Rajkumar Pande, Virendra Samani and Arpit Maheshwari from securities market for one year. Arpit Maheshwari, deputy manager of Future Retail has been barred from markets for one year and restrained for two years from dealing in shares of Future Retail. The market regulator also asked these entities to disgorge wrongful gains made by them in the alleged insider trading.
Market regulator Securities and Exchange Board of India (Sebi) on Wednesday prohibited Future Group CEO Kishore Biyani and his brother from being associated with securities market in any manner for a period of one year. The Sebi order is related to the case of alleged insider trading between March and April 2017. Biyani won t be allowed to buy, sell or deal in securities of Future Retail for a period of two years. Further, Future Corporate Resources and the two Biyani brothers will each need need to pay a penalty of Rs 1 crore within 45 days, Sebi noted.
SEBI also barred FCRL Employee Welfare Trust and 4 others from securities market for 1 year.