The Securities Exchange Board of India (SEBI) has investigated JayBharat Textiles & Real Estate , a Tayal Group promoted entity. The investigations reveal that the promoters' shareholding is more than 90%, reports CNBC-TV18's Sajeet Manghat.
The market regulator has extended the Bank of Rajasthan probe to JayBharat Textiles. It has banned JayBharat Textiles banned from trading. About 30 entities including the promoters have been banned from trading.
SEBI says shareholders under public holding are linked to the Tayal Group. SEBI says that as per disclosures made by the company, the promoter shareholding in the company is around 67%, but SEBI investigations reveal that the promoters have effective ownership of 96.99% equity. Promoters also attempted to show additional floating stock and withheld disclosure to the public.
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