NEW DELHI: The Securities and Exchange Board of India (Sebi) on Wednesday barred Future Group CEO Kishore Biyani from accessing the securities market apparently for a period of one year.
Sebi’s order pertains to a case of alleged insider trading by Biyani between March and April 2017.
The market regulator announced its decision after a probe into the use of unpublished price sensitive information to trade in Future Retail.
Also, as per the order, Biyani will not be allowed to buy, sell or deal in securities of Future Retail for a period of two years.
Sebi stated that Biyani, along with some other parties, is involved in disgorging an amount of over Rs 17.78 crore.