Current Affairs · Regulatory Crackdowns and Capital Markets
In a major regulatory crackdown regarding financial misstatements and accounting violations for FY20, SEBI suspended trading in a listed company's shares effective June 14 and imposed cumulative penalties amounting to ₹34 crore on the entity and its promoters. Additionally, two key promoters were each fined ₹15 crore and barred from the securities market for 5 years. Multibagg AI Which of the following correctly identifies the penalized company and the specific promoters who were each fined ₹15 crore?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Company: Brightcom Group; Promoters fined: M Suresh Kumar Reddy and Vijay Kancharla✓
- 2Company: Brightcom Group; Promoters fined: Paresh Dhirajlal Shah and Ruchir Goyal
- 3Company: LS Industries; Promoters fined: M Suresh Kumar Reddy and Vijay Kancharla
- 4Company: LS Industries; Promoters fined: Jahangir Panikkaveettil Perumbaramabthu and Suet Meng Chay
Correct answer
Company: Brightcom Group; Promoters fined: M Suresh Kumar Reddy and Vijay Kancharla
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