SEBI bans Varyaa Creations from market; restrains banker Inventure from new assignments in alleged IPO funds siphoning
SEBI found that the lead manager had transferred ₹14 crore, forming nearly 70 per cent of the issue proceeds, to Kaveri Corporation, Maruti Corporation, and Overseas Metal and Alloys Pvt — which have not been disclosed in the prospectus | Photo Credit: FRANCIS MASCARENHAS The Securities and Exchange Board of India (SEBI) has banned Varyaa…