After SEBI passed an order banning Kishore Biyani and seven others from accessing the securities market a for a period of one year, ET NOW learns from sources that Kishore Biyani has moved the Securities Appellate Tribunal (SAT) against the order. The regulator also barred the Biyani brothers and FCRL from buying, selling or dealing in the shares of FRL directly or indirectly for two years and imposed a penalty of Rs 1 crore on each of them. Sebi has also directed the three to “disgorge” Rs 17.78 crore along with 12% interest. ET NOW’s Priyanka Iyer with more details. Listen-in!!!
