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The Times of India
The Times of India
Business
PTI

Siphoning of IPO proceeds: Sebi bans Austral Coke, 4 others from securities market for 6 months

SEBI IPO New Delhi

NEW DELHI: Sebi on Monday barred Austral Coke and Projects Ltd (now known as Greenearth Resources and Projects Ltd) and four others from the securities market for six months in a case pertaining to siphoning off the company's IPO proceeds to a promoter group entity.

Also, the company has been directed to take the measures to bring back Rs 29.42 crore of the proceeds of IPO (initial public offering) within one year, according to a Sebi order.

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