Four listed firms of the Kishore Biyani-led Future Group on Tuesday expressed their inability to convene a board meeting before May 30 to approve their financial results for the quarter and year ended March 31 on account of vacant positions on their respective boards.
Get latest articles and stories on Latest News at LatestLY. Two listed Future group firms Future Retail and Future Lifestyle Fashion on Tuesday expressed their inability to convene a board meeting before May 30, to approve their financial results for the quarter and year ended March 31, on account of vacant positions on their respective boards. Latest News | Earnings Announcements of Future Retail, Future Lifestyle to Be Delayed.
There is an exodus of people from the board and at other levels in several Future group companies after Rs 24,713 crore deal was called off by Reliance Retail
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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.