Sebi imposes Rs 58.5 crore penalty on Seya Industries’ top executives for financial fraud and fund diversion

Quick Summary:

SEBI has penalized four Seya Industries officials, including Ashok and Amrit Rajani, with ₹58.5 crore for allegedly diverting ₹81.26 crore to promoter-linked firms and falsifying financial statements.

The regulator barred them from the securities market for five years and directed Amrit Rajani to return the siphoned funds with 12% interest.

All four individuals — Ashok Rajani, Amrit Rajani, Bhowmik, and Buddi — have been barred from accessing the securities markets for five years.

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Article Details

Author / Journalist: TOI Business Desk

Category: EconomyBusiness

Markets: IndiaAustraliaBrazilJordanPakistanSouth Africa

Topics: Ashok Rajani Seya Industries Sebi penalty Seya Industries Forensic audit Seya Industries Financial fraud Seya Industries Fund diversion Seya Industries

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-04 @ 00:43:49 (1 days ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 1020 words

Reading Time: 6 minutes read

Sentences: 33 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 28337631

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