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.