SEBI Bars Tarapur Transformers, Promoters from Markets for 5 Years Over Fund Diversion

Summary

SEBI has barred Tarapur Transformers and its promoters, along with seven other entities, from securities markets for up to five years due to fund diversion. The regulator found evidence of interest-free loans and fictitious transactions, imposing a five-year ban and a Rs 30 lakh fine on promoter Rajendra Kumar Choudhary.