Mumbai, 4/2 (AO Bureau): In a big development, SEBI barred Future Group Chief Executive Kishore Biyani and his brother Anil from accessing the securities market for a year after investigating insider trading case.
SEBI’’s order comes after the Delhi high court directed FRL to maintain the status quo on the Rs 24,713-crore deal with Reliance Retail.
Future released a statement,”The SEBI Order is untenable since it treats a well-anticipated and publicly well-known impending reorganization of the home furnishing businesses that the Future Group effected in 2017 to be unpublished information,” it said, adding that the order will not affect its deal with Reliance Industries Ltd”.