Govt Official To CNBC-TV18 | Bharat-22 ETF FFO Currently oversubscribed 1.47x; Govt to raise Rs 8,400 cr from Bharat-22 ETF FFO, with greenshoe option of Rs 2,400 cr
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Sebi bars over 90 entities linked to Moryo group
Business Standard
The Securities and Exchange Board of India (Sebi) on Thursday barred over 90 entities connected to Moryo Industries from accessing capital markets; making it one of a holistic action by Sebi against large number of entities in one order.
In the interim order the markets regulator observed that the Moryo industries, its promoters and other related entities indulged in fraudulent and manipulative market transactions to create artificial volumes by trading in the scrip.
In the ex-parte order Sebi, Whole Time Member, Rajeev Kumar Agarwal, also observed that the Moryo Group misused the stock exchange platform to reduce the income tax dues.
"Moryo Group has misused the stock exchange system to generate fictitious long term capital gains (LTCG) to convert their unaccounted income into accounted one with no payment of taxes as LTCG is tax exempt. I prima facie find that the above modus operandi helped the conc...
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