Future
Group CEO Kishore Biyani has been banned by markets regulator Sebi from
accessing securities markets for a complete year due to the case of alleged
insider trading between March and April 2017. Sebi has also banned him from
buying, selling or dealing in securities of Future Retail for a span of two
years.
Also read: Delhi High Court rejects Future Retail’s plea against Amazon
According
to media reports, Sebi told that they took this decision after investigating
into case of use of unpublished price sensitive information to trade in Future
Retail shares from 2017. They also banned Future Corporate Resource
Limited Employee Welfare Trust along with four others from securities market
for a year.
Biyani and
others involved have been ordered to jointly surrender Rs. 17.78 crore to Sebi.
The Sebi order belong to trades executed when FCRL merged
into Suhani Trading and Investment Consultants Private Limited, as per media
reports.
