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The Economic Times
The Economic Times

Sebi bars Tarapur Transformers, promoters from markets for 5 years in fund diversion case

SEBI

New Delhi, Sebi on Monday barred nine entities, including Tarapur Transformers and its promoters, from the securities markets for up to five years in a case involving diversion of funds and fictitious transactions of company's books of accounts.

The regulator also imposed a fine of Rs 30 lakh on Rajendra Kumar Choudhary, a promoter of Tarapur Transformers Ltd (TTL), and Rs 2 lakh on Ganesh Gangaram Madhari. Choudhary has also been prohibited from the markets for five years.

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