The Securities and Exchange Board of India (SEBI) has taken major action in the matter of affecting the share prices of Ruchi Soya Industries Limited. SEBI has taken this action in a 10 year old case. A fine of Rs 25 lakh has been imposed on nine companies in this case.
Which companies are involved: In its order, SEBI has issued orders to Aventis Biofeeds Pvt Ltd, Navinya Multitrade Pvt Ltd, Uni24 Techno Solutions Pvt Ltd, Sunmate Trade Pvt Ltd, Shreyans Credit and Capital Pvt Ltd, Betul Oils and Feeds Pvt Ltd, Betul Minerals and Construction Pvt Ltd, Vision Millennium Exports Private Limited and Mobius Credit and Capital Private Limited have been fined a total of Rs 25 lakh.
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SEBI has given this order after its investigation into the securities and futures trading of Ruchi Soya during the last half hour of trading between 3:00 PM to 3:30 PM on September 27, 2012.
Ramdev bought in 2019: In 2019, Ruchi Soya was acquired by yoga guru Ramdev as part of the bankruptcy process. Ruchi Soya also recently launched its FPO. The company’s FPO has received strong response from investors.