Capital markets regulator Sebi has passed an interim order against SME-listed Kore Digital and three of its key managerial personnel after a probe found prima facie evidence of manipulated financial statements, allegedly non-genuine subsidiaries, suspicious accounting entries and diversion of preferential issue proceeds.
Sebi has restrained managing director Ravindra Doshi, chief executive officer Chaitanya Doshi and chief financial officer Kashmira Doshi from buying, selling or otherwise dealing in Kore Digital shares until further orders. The regulator has also barred the company and the three individuals from accessing the securities market to raise money from the public.
