Economy
SEBI penalises Shares Bazaar and directors ₹20 lakh over scheme
The Hindu39m
THE BRIEF
1
The Securities and Exchange Board of India imposed a total penalty of ₹20 lakh on Shares Bazaar and four of its executives for market norm violations.
2
SEBI found that the firm offered an unapproved scheme promising assured returns of 18% to 48% annually while misleading investors into believing funds went to the securities market.
3
An examination of company bank accounts revealed transactions amounting to ₹72.66 crore during the period between March 2021 and December 2022.