
SEBI Cracks Down on Varyaa IPO Misuse, Freezes Promoters' Shares, Bars Inventure Over Diversion of 71% of Proceeds
Market regulator Securities and Exchange Board of India (SEBI) has exposed what it calls a ‘collusive’ scheme to siphon off most of the funds from Varyaa Creations Ltd’s small and medium enterprises (SME) initial public offering (IPO). In an interim order …