India Bars Two Over Dhenu Buildcon Loan Scheme
India markets regulator bars two individuals linked to Dhenu Buildcon Infra from the securities market. They allegedly orchestrated a fabricated loan scheme that inflated the company market value.
India's markets regulator barred two individuals on Wednesday afternoon for orchestrating a fabricated-loans scheme that inflated Dhenu Buildcon Infra's market value by 1,635 times. The Securities and Exchange Board of India issued an interim order penalizing Surendra Kumar Jain and Virendra Jain. The regulatory clampdown targets a network that manipulated corporate filings to artificially boost equity valuations without underlying revenue growth.
