Sebi slaps Rs 10 cr fine on Sybly Industries for GDR manipulation

SEBI slaps Rs. 100000000 fine on Sybly Industries Markets regulator SEBI slapped a fine of over Rs. 100000000 on Sybly Industries Limited in a matter related to the manipulation in issuance of global depository receipts (GDR). The penalty followed a probe by the SEBI regarding the firm’s allotment of 1.51 million GDRs, amounting to $6.99 million, in June 2008. The markets regulator found the entire 1.51 million GDRs were subscribed by one entity.PTI