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Fraudulent trading: Sebi slaps Rs 50 lakh fine on four individuals An investigation was conducted by Sebi with respect to GDR (Global Depository Receipt) issuance by the company during November-December 2007 PTI | January 27, 2021 | Updated 21:06 IST Markets regulator Sebi on Wednesday imposed a total fine of Rs 50 lakh on four individuals for indulging in fraudulent trading activities with respect to GDR issuance by MPS Infotecnics Ltd. Penalties have been imposed on Peeyush Aggarwal, Sanjiv Bhavnani, Karun Jain and Rajinder Singh (noticees). An investigation was conducted by Sebi with respect to GDR (Global Depository Receipt) issuance by the company during November-December 2007. The regulator, in its investigation, found that MPS had issued GDRs amounting to Rs 39.45 crore and the entire GDR proceeds were subscribed to only one entity CLIFFORD. ....