Securities market ban on Biyani won t impact Future-Reliance deal
By IANS |
Published on
Thu, Feb 4 2021 19:03 IST |
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Mumbai: Kishore Biyani, CEO, Future Group and MD during the launch of Oats brand Kosh as India s third grain in Mumbai on Oct. 17, 2016. . Image Source: IANS News
Mumbai, Feb 4 : The Indian security markets regulator s bar on Future Retail CEO Kishore Biyani will not impact the proposed deal to sell Future Group s retail, wholesale, logistics and warehouse businesses to Reliance Retail.
The SEBI order said that during the period of restraint, the existing holding of securities including the units of mutual funds, of the concerned noticees, shall remain under freeze.
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Future Retail CEO Kishore Biyani barred from securities market for insider trading
The Securities and Exchange Board of India (SEBI) has barred Future Retail CEO Kishore Biyani, among others, from the securities market for a period of one year for insider trading in the scrip of Future Retail (FRL). The other entities and individuals barred from the securities market are Future Corporate Resources Private Limited (FCRPL), Kishore Biyani s brother Anil Biyani, Rajesh Pathak and Rajkumar Pande.
An investigation found that some of the entities traded in shares of Future Retail on the basis of unpublished price sensitive information (UPSI) violating SEBI norms during the period between March 10 and April 20, 2017.
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.
Kishore Biyani barred from securities market for 1 year
By IANS |
Published on
Wed, Feb 3 2021 21:18 IST |
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Mumbai: Kishore Biyani, CEO, Future Group and MD during the launch of Oats brand Kosh as India s third grain in Mumbai on Oct. 17, 2016. . Image Source: IANS News
New Delhi, Feb 3 : The Securities and Exchange Board of India (SEBI) on Wednesday barred Future Retail CEO Kishore Biyani, among others, from the securities market for a period of one year for insider trading in the scrip of Future Retail (FRL).
The other entities and individuals barred from the securities market are Future Corporate Resources Private Limited (FCRPL), Kishore Biyani s brother Anil Biyani, Rajesh Pathak and Rajkumar Pande.