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Sebi bans 3 entities in Infibeam Avenues insider trading case

The entities have been restrained from buying, selling or otherwise dealing in securities of IAL directly or indirectly, in any manner for a period of two years.

April 28, 2021 / 10:43 PM IST

Regulator Sebi has barred three entities from the capital markets for one year for indulging in insider trading in the shares of Infibeam Avenues Ltd (IAL).

The entities facing ban are Shah Dhiren Mahendrakumar (HUF), Amee Dhiren Shah and Affluence Fincon Service (P) Ltd, according to a final order passed by Sebi on on April 28.

In addition, they have been restrained from buying, selling or otherwise dealing in securities of IAL directly or indirectly, in any manner for a period of two years.

Also, the Securities and Exchange Board of India (Sebi) imposed a penalty of Rs 15 lakh on each entity.