SEBI bars Aptech from stock market for 6 months

The Securities and Exchange Board of India (SEBI) has reportedly barred Aptech from the stock market for six months for being found guilty in a Global Depository Receipt (GDR) issue and loan-related fraud, which took place in 2003. Aptech cannot raise any money from the markets, or deal in stocks or derivatives segments during the six-month ban. SEBI has also barred Aptech’s former Managing Director Pramod Khera for five years for violating the Prevention of Fraudulent and Unfair Trade Practices (PFUTP) norms, reported The Hindu BusinessLine.

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The Indian market was trading in the red in the morning, with the Sensex down 390.01 points, or 1.38 percent, at 27875.30 and the Nifty had slipped 112.55 points, or 1.36 percent, to 8141.25.

The spread of coronavirus seemed to weigh on the market even as Prime Minister Narendra Modi, in a video message, hailed the people for adhering to the 21-day lockdown and requested their support to fight the outbreak.