SEBI bars DHFL promoters from securities market

NEW DELHI:  The Securities and Exchange Board of India (SEBI) has barred twelve promoters of Dewan Housing Finance Limited (DHFL) from accessing the securities market, citing violation of norms. 

Kapil Wadhawan, Dheeraj Wadhawan, Rakesh Kumar Wadhawan, Sarang Wadhawan, Aruna Wadhawan, Malti Wadhawan, Anu S Wadhawan, Pooja D Wadhawan and a few other Group companies cannot deal in any kind of transaction in any type of securities until further order.

It has restrained them from associating themselves with any listed public company and any public company as directors or promoters which intends to raise money from the public or any intermediary registered with SEBI.

Investors’ interest

The market regulator said it is imposing the ban to minimise the damage to the interests of the investors and to protect market integrity.