Sebi bans Finalysis Credit, 13 others for defrauding public shareholders

Regulator Sebi on Tuesday barred Finalysis Credit & Guarantee Co. Ltd and 13 other entities from capital markets for up to five years for defrauding public shareholders by issuing forged consolidated share certificates.

Further, the entities have been restrained from holding any position as director or key managerial personnel in any listed company or any registered intermediary for up to five years, Sebi said in an order.

Besides, four of these entities have been asked to disgorge illegal gains made by them.

The regulator conducted an investigation in the matter in November 2014, and found that these entities had devised a scheme to