Sebi bars DCHL promoters, 2 others from securities market for up to 2 yrs

Capital markets regulator Sebi has barred the promoters of Deccan Chronicle Holdings Ltd (DCHL) from the securities market for a period ranging from one year to two years as well as imposed penalties totalling Rs 8.20 crore for various violations.

The directions passed against them through an order on Tuesday are for fraudulent activities, understatement of loans by DCHL in its financial statements for the fiscal year 2008-09 to 2011-12 and violations of regulations.

The regulator imposed a fine of Rs 4 crore on DCHL, Rs 1.30 crore each on T.Venkattram Reddy, T. Vinayak Ravi Reddy, Rs 20 lakh on N Krishnan and Rs 10 lakh on V Shankar.

"... restrains T. Venkattram Reddy, T. Vinayak Ravi Reddy,PK Iyer, N Krishnan and V Shankar from accessing the securities market and further prohibit him from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market in a manner for a period ranging from one year to two years," Sebi ...