Shankar Sharma barred from selling Brightcom shares thestatesman.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestatesman.com Daily Mail and Mail on Sunday newspapers.
After finding Brightcom Group Ltd (BGL), its promoter, chairman and managing director (CMD) M Suresh Kumar Reddy and chief financial officer (CFO) Narayan Raju were involved in round-tripping of BGL s own funds in a circular fashion to falsely portray receipt of consideration from allottees of preferential allotments and siphoning off of proceeds of preferential allotments, Securities and Exchange Board of India (SEBI) barred top executives of the company as well as investor Shankar Sharma from offloading or disposing of their shareholding in the company.
Sharma responded to the issue on his official X handle and said, "We have submitted all reqd reconciled remittance data to SEBI today, totalling to Rs.56.65 Cr for 1.5 Cr shares @ 37.7 RS= 56.65 Cr. Delay was because of bank reconciliation data pending from Co. We look forward to early closure of the matter".
Brightcom Group shares hit the lower circuit of 5 per cent after SEBI barred the company's CMD and CFO from holding directorial positions.Brightcom Group shares are down 4.96 per cent at Rs 22.98 on BSE.In a stock exchange filing, Brightcom .
Shankar Sharma barred from selling Brightcom shares #newkerala(96292) newkerala.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newkerala.com Daily Mail and Mail on Sunday newspapers.