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In rare crackdown, Sebi halts trading in Bharat Global
Mint Hyderabad
|December 24, 2024
BGDL's share price surged 105x over the past year, rising from ₹16.14 in Nov 2023 to ₹1,702.95 in Nov 2024
The market regulator has suspended trading in Bharat Global Developers Ltd's (BGDL) shares until further notice over allegations of fraudulent activities and false disclosures, in an unprecedented crackdown.
The suspension, effective immediately, follows a probe that found significant irregularities in the company's financials and operations.
While the Securities and Exchange Board of India (Sebi) has barred promoters from accessing markets in suspicious cases in the past, according to regulatory experts, this is the first time that the regulator has halted trading of a company in the public market.
Cette histoire est tirée de l'édition December 24, 2024 de Mint Hyderabad.
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