Sebi bars founders of 4 firms

 The founders of Murli Industries, Ackruti City Ltd, Welspun Corp and Brushman India have been directed not to deal in any securities of their group companies, it said. Sebi also prohibited businessman Sanjay Dangi and his group entities from dealing in any securities on charges of manipulation of share prices.

Sebi said all four firms had raised funds through a qualified institutional placement or foreign currency convertible bonds during 2007-2009 and Dangi group was observed to be trading substantially in the shares of these firms around the same period.