SEBI fined Kishore Biyani, Rakesh Biyani and former CFO C P Toshniwal a total of ₹50 lakh for breaching disclosure norms and related party transaction rules in the Future Retail case. The regulator said relationships and transactions were not properly disclosed and some deals had not received mandatory approvals. The wider probe also examined allegations of account manipulation and fund siphoning.
SEBI has fined Axis Trustee Services ₹10 lakh for failing to promptly disclose an adverse ruling against former REIT executive Aravind Maiya. The National Financial Reporting Authority found Maiya guilty of misconduct, information critical for unitholders and stock exchanges. Regulators said Axis Trustee’s disclosure delay triggered the action, highlighting compliance expectations for trust managers.
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