An investigation conducted by Sebi into deployment of funds raised through this IPO found that the company had diverted R35.25 crore worth of proceeds to three entities for purposes other than those stated as the objects of the IPO. The company had raised R36.85 crore through this IPO in September 2011. In a 54-page order, Sebi asked Onelife and its MD Pandoo P Naig to bring back R35.25 crore, the diverted IPO proceeds, into the company from Fincare, Precise and KPT within six months. Both of them have been barred from from dealing in securities markets, directly or indirectly, for a period of three years. Onelifes five directors T K P Naig, D C Parikh, A P Shukla, T S Raghavan and T Shirdharani have also been barred from taking up any assignments as directors in any company for one year, Sebi said.