The Sebi has barred the promoters of Deccan Chronicle Holdings Ltd (DCHL) from the securities market, for a period varying from 1-2 years, and levied fines totalling Rs 8.20 crore for various violations.
The directions, passed through an order on Tuesday, are for fraudulent activities, understatement of loans by DCHL in its financial statements for the fiscal year 2008-09 to 2011-12 and violations of regulations.
The Sebi imposed a fine of Rs 4 crore on DCHL, Rs 1.30 crore each on T Venkattram Reddy, T Vinayak Ravi Reddy, Rs 20 lakh on N Krishnan and Rs 10 lakh on V Shankar. WITH PTI
