Sumeet and 14 other entities barred by Sebi

Sebi on Wednesday barred Sumeet Industries and 14 other entities, including company's chairman, promoters and directors, from capital market for up to three years and also directed them to disgorge wrongful gains made by them through stock manipulation in 2007. / PTI Photo

Sebi on Wednesday barred Sumeet Industries and 14 other entities, including company's chairman, promoters and directors, from capital market for up to three years and also directed them to disgorge wrongful gains made by them through stock manipulation in 2007.

While Sumeet Industries Ltd (SIL) has been restrained from dealing in the securities market for two years, its chairman Shankar Somani, MD Rajkumar Somani have been barred for a period of three years. 

Sebi has prohibited company's three directors, five promoters and four other individuals from the capital market.

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