SEBI Fines Gujarat CM Rupani’s HUF for Unfair Trading Practices

Securities and Exchange Board of India(SEBI) has penalised 22 entities, including Gujarat Chief Vijay Rupani’s Hindu Undivided Family, for unfair trade practices. The Rupanis carried out manipulative trading through a company called Sarang Chemicals, the market regulator said in its order dated October 27. The Rupani family along with the other accused entities, that Sebi said were “connected or related”, allegedly created artificial volume in the shares of Sarang Chemicals by trading among themselves, the Business Standard reported.

Congress demanded removal of Gujarat Chief Minister Vijay Rupani over the Securities and Exchange Board of India (SEBI) slapping fine on his firm for alleged manipulative share trade. Congress vice-president Rahul Gandhi also took a dig at the ruling party on the issue, saying the revelation “was another tale of ‘na khaoonga, na khane doonga‘”. Gandhi was referring to Prime Minister Narendra Modi’s promise of not allowing corruption under his watch.

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Filed in: Ahmedabad News, Assembly Election 2017, Business News, Gujarat BJP, Gujarat Election, Gujarat News, Politics, Surat News, ગુજરાત સમાચાર Tags: , , , , , ,

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