The SEBI has imposed a total penalty of Rs 26 crore on IL&FS Securities Services Ltd. In a separate order, the capital market regulator has imposed penalties of Rs 3 crore on AFSPL and another Rs 3 crore on its MD, Awanish Kumar Mishra. It has also imposed fines of Rs 14 lakh and Rs 7 lakh on its directors Himanshu Arora and Jitendra Kumar Tiwari. The capital market regulator has also restrained IL&FS Securities from acquiring any new clients till a period of two years. Further, the IL&FS arm would also undertake a comprehensive overhaul of all its procedures and policies, especially its Risk Management Policy and implement necessary corrective measures to ensure that the violations observed are not repeated, the regulator said.
SEBI imposes Rs 26 cr penalty on IL&FS Securities, AFSPL for fraudulent transfer of MF units
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Sebi slaps over Rs 32 crore penalties on IISL, AFSL, 3 individuals
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Delhi court dismisses Awanish Kumar s bail plea for misappropriation of funds ANI | Updated: Feb 20, 2021 16:16 IST
New Delhi [India], February 20 (ANI): A Delhi court has dismissed the bail plea of Awanish Kumar Mishra, Director of Allied Financial Services Pvt Ltd (AFSPL), who was arrested by Delhi Police s Economic Offences Wing (EOW) for alleged misappropriation of funds to the tune of Rs 345 crore.
Reetesh Singh, Additional Sessions Judge of Karkardooma Court complex in an order passed on February 18 said that accused Awanish Kumar Mishra who faces the same set of allegations as that of co-accused V. Hansprakash will also be in the same boat. However, as the Counsel for the complainant has submitted that he has filed an application for cancellation of bail against accused Awanish Kumar Mishra which is pending in another Court, it will not be appropriate for this Court to make any comment about the existence or absence of any order of i