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GDR scam: SEBI lets Aptech off the hook - The Hindu BusinessLine


May 13, 2021
SEBI had barred the firm from the stock markets for 6 months   -  AndreyPopov×
Spares the company monetary penalty; says law cannot be applied retrospectively
Market regulator SEBI had found Aptech Ltd guilty of fraud in the GDR scam but has let go of the company without any monetary penalty. SEBI’s reasoning is that it got ‘powers to adjudicate’ the matter after the company worked out its scheme and the law cannot be applied retrospectively.
BusinessLine had reported on April 2, 2020 that SEBI had found Aptech guilty in a GDR issue and loan fraud and barred the company from the stock markets for six months. Aptech is a rare instance where SEBI has let go of a company without any penalty in the GDR scam. Earlier, SEBI had slapped a penalty of over ₹61 crore on Hiran Orgochem and its officials, and ₹1.2 crore penalty on two directors of Beckons Industries for GDR manipulation, among several other companies. ....

Hiran Orgochem , Pramod Khera , Banco Bank To Aptech , Aptech Ltd , Beckons Industries , Fraudulent Trading Practices , Banco Bank , Rakesh Jhunjhunwala Led , Market Regulator Sebi , Gdr Scam , Prevention Of Fraudulent Trading Practices , Gdr Manipulation , பிரமோத் கேரா , அப்டேத் லிமிடெட் , அழைக்கிறது தொழில்கள் , பான்கோ வங்கி , ராகேஷ் ஜுன்ஜுன்வாலா வழிநடத்தியது , சந்தை சீராக்கி செபி ,