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SEBI fines nine companies for influencing the share prices of Ruchi Soya

New Delhi, May 2 (PTI) The Securities and Exchange Board of India (SEBI) has imposed a fine of Rs 25 lakh on nine companies for influencing the share prices of Ruchi Soya Industries Ltd ten years ago.

The market regulator, in its order issued on April 29, has issued orders to Aventis Biofeeds Pvt Ltd, Navinya Multitrade Pvt Ltd, Uni24 Techno Solutions Pvt Ltd, Sunmate Trade Pvt Ltd, Shreyans Credit and Capital Pvt Ltd, Betul Oils and Feeds Pvt Ltd, Betul Minerals and Construction Pvt. Ltd., Vision Millennium Exports Pvt Ltd and Mobius Credit and Capital Pvt Ltd have been fined a total of Rs 25 lakh.

According to SEBI, these companies receiving the notice will have to pay this fine ‘jointly and separately’.

SEBI has given this order after its investigation into the securities and futures trading of Ruchi Soya during the last half hour of trading on September 27, 2012 between 15:00 hrs and 15:30 hrs.

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