Sebi action against the companies and the individuals concerned came after it was found that the firms did not comply with public issue norms in raising the funds. Photo: Aniruddha Chowdhury/MintNew Delhi: Market regulator Sebi has barred Falcon Infra Projects, Jeevan Suraksha Real Estate and 12 individuals from the securities market as the two companies illegally raised funds from the public. Apart from the two firms, the watchdog has directed nine individuals to refund money to the investors along with annual interest. In the case of Jeevan Suraksha, the company had garnered Rs10 lakh by allotting shares to 65 investors during 2006-07, as per two separate orders issued by Sebi on Wednesday. In this case, the watchdog has also barred the five entities from the securities market for four years from the date of completion of refund.

Source: Mint November 16, 2017 14:26 UTC