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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

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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 Sebi also said that the decision was reached after probe into use of unpublished price sensitive information to trade in Future Retail.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.

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