Sebi imposes Rs 2-crore fine on Saradha Realty, 3 others

NEW DELHI: In the high-profile Saradha Realty case, markets regulator Sebi on Friday imposed a fine of Rs 2 crore on the company, chief Sudipta Sen and two directors

NEW DELHI: In the high-profile Saradha Realty case, markets regulator Sebi on Friday imposed a fine of Rs 2 crore on the company, chief Sudipta Sen and two directors for failing to comply with earlier directions to wind up illicit money-pooling schemes and refund investors. Saradha Realty, as well as its promoters and directors, were asked by Sebi through an order in April 2013 to wind up all collective investment schemes and to refund the money collected from investors, with returns, within three months.

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