Sebi suspends trading in Bharat Global Developers over financial misrepresentation

Quick Summary:

The inquiry was triggered by a dramatic 105-fold increase in BGDL's share price, which surged from Rs 16.14 in November 2023 to Rs 1,702.95 in November 2024.

This came after the Securities and Exchange Board of India (Sebi) initiated an investigation into Bharat Global Developers following social media posts and a complaint on December 16, 2024.

The financial statements revealed that till FY23, the company had negligible revenue, expenses, fixed assets and cash flows.

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Article Details

Author / Journalist: Press Trust of India

Category: StartupsEconomyBusiness

Markets: India

Topics: Financial Company Price Shares 2024 Trading Bharat Share Sebi Preferential Regulator

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-23 @ 06:41:21 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 598 words

Reading Time: 4 minutes read

Sentences: 30 lines

Sentence Length: 20 words per sentence (average)

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Copyright Owner: © YourStory

News ID: 24591820

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