The regulator Sebi today barred Brooks Laboratories and its top executives from the securities markets for five years for siphoning off funds and concealing of material information in its IPO documents. In a 42-page order, Sebi said they have been prohibited from raising any further capital from the securities market, in any manner whatsoever, for a period of five years. In another order, Sebi has imposed 2 lakh rupees penalty on state-run United Bank of India (UBI) for violating norms related to debenture trustees.
The Real Voice of India