Holding seven entities, including Yash Birla, for providing security towards the loan taken by Vintage for subscribing to global depository receipts (GDR) of Zenith Steel Pipes & Industries Ltd (erstwhile Zenith Birla (India) Ltd) -ZBIL,
In its order passed on Tuesday, Sebi said that Panchariya connived with the other six entities to structure the fraudulent issue of GDRs wherein Teledata suffered a loss to the tune of $32.53 million.
The Securities and Exchange Board of India (Sebi) conducted an investigation into the GDR issued by Commex Technology for the period May to June 2009, , sebi, Commex Technology, GDR Manipulation Case
Zenith Birla GDR manipulation case: Sebi bans 7 entities, 6 individuals business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.