Sebi imposes Rs 10 lakh fine on entities in Sanjay Dangi case
The regulator had passed an interim order in December 2010 banning Dangi, his associates and promoters of four companies Murli Industries, Ackruti City, Welspun Corp and Brushman India¿ from dealing in the equity markets following allegations of price manipulation.
The Sebi order had followed an income tax department probe. The regulator's probe had revealed a well-planned strategy to manipulate the share price of the company before the issuance of the Foreign Currency Convertible Bond (FCCBs).
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