Sebi bans Rana Sugars' promoters from mkt for 2 yrs; imposes Rs 63 cr fine

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Sebi bans Rana Sugars' promoters from mkt for 2 yrs; imposes Rs 63 cr fine - Business Standard

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The regulator also prohibited Inder Pratap Singh Rana (promoter), Ranjit Singh Rana (Chairman), Veer Pratap Singh Rana (MD), Gurjeet Singh Rana, Karan Pratap Singh Rana, Rajbans Kaur, Preet Inder Singh Rana and Sukhjinder Kaur (promoter) from holding any position as director or key managerial person of any other listed company for two years.

Markets regulator Sebi has debarred 14 entities including, Rana Sugars promoters' and other related entities from the securities markets for two years and slapped a Rs 63-crore fine on them on charges of diversion of funds.

Ranjit Singh, Veer Pratap and Sukhjinder Kaur were also the promoters of Rana Sugars Ltd, as per the exchange data.