As many as 28 entities have been banned for at least four years from the securities market for raising funds illegally from the public, according to Sebi orders. In separate orders, the watchdog has barred many entities apart from directing some of them to refund the money along with a specified interest to the investors. Sebi has barred Roofers Infra-Projects Ltd and 20 other entities, including individuals. Similar quantum of punishment has been ordered in the case of Rahul Inn Hospitality Ltd and six others for at least four years. An enquiry had found that Roofers Infra-Projects raised at least Rs 74.40 crore through issuance of secured redeemable non-convertible debentures during the period from 2009-10 to 2013-14.

Source: dna October 10, 2017 14:05 UTC