You are here: Home » Markets » News
Business Standard

Sebi bars Kishore Biyani from accessing securities market for one year

SEBI also barred FCRL Employee Welfare Trust and 4 others from securities market for 1 year

Kishore Biyani | SEBI

BS Web Team  |  New Delhi 

The Kishore Biyani-led group is in stake sale talks with Reliance Industries
Kishore Biyani, Future CEO

Market regulator Securities and Exchange Board of India (Sebi) on Wednesday prohibited Future Group CEO and his brother from being associated with securities market in any manner for a period of one year.

The order is related to the case of alleged insider trading between March and April 2017. Biyani won't be allowed to buy, sell or deal in securities of Future Retail for a period of two years. Further, Future Corporate Resources and the two Biyani brothers will each need need to pay a penalty of Rs 1 crore within 45 days, noted.

also barred FCRL Employee Welfare Trust and 4 others from securities market for 1 year.

The market regulator stated that Biyani, along with some other parties, is involved in disgorging an amount of over Rs 17 crore to it. Sebi also said that the decision was reached after probe into use of unpublished price sensitive information to trade in Future Retail.

The order relates to trading executed when FCRL merged with Suhani Trading and Invstement.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, February 03 2021. 19:00 IST