Castor Seeds issue: SEBI bars two companies

India’s commodity and securities market regulator SEBI has barred two companies from securities markets for the alleged fraudulent and manipulative trading activities in castor seeds at the NCDEX. Ruchi Soya and National Steel and Agro Industries has been barred by SEBI.

“Ruchi Soya (who was holding significant position in Castor Seed Contracts) has transferred funds of around ?76.77 crore during the period of Jan 01, 2015 to Jan 27, 2016 to 5 clients who were also holding significant position in Castor Seed Contracts,” as per the SEBI circular.

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