Appellant rightly debarred from accessing securities market for 3 yrs for fraudulently transferring of GDR proceeds

COMPANY LAW/SEBI : Where company TBL had launched GDR and proceeds were transferred to its subsidiaries including one in which appellant was providing secretarial and administrative services and appellant issued instructions to transfer proceeds of GSR from said subsidiary company's account to an account in which he was beneficiary, SEBI's direction to debar appellant from accessing securities market for three years was justified

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