Business Standard

Sebi bars 19 firms for GDR manipulati­on


Cracking the whip, Sebi on Tuesday barred 19 domestic and foreign entities from securities markets for manipulati­on in issuances of global depository receipts and warned several others including FIIs. The regulator has imposed a 10-year ban on K Sera Sera and Asahi Infrastruc­ture and Projects, which figured among the 6 companies whose GDR issuances were manipulate­d, while at least 26 entities including European American Investment Bank AG have been warned that all their future dealings in Indian markets should be strictly according to regulation­s.

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