The Securities and Exchange Board of India (SEBI) on Wednesday banned Kishore Biyani, Future Group CEO, from accessing the securities market for one year in a case related to alleged insider trading between March and April 2017.
The markets regulator has also barred Biyani from selling, buying or dealing in securities of Future Retail for two years. It arrived at this decision after a probe into 2017 case that used unpublished price sensitive information to trade in the shares of Future Retail.
Earlier in the day, Future Retail Ltd (FRL) filed an appeal in the Delhi High Court against the status quo order on its Rs 24,713-crore deal with Reliance.
(This is a developing story)