SEBI Bans DHFL’s Wadhawans and Four Others from Markets
NEW DELHI: The securities regulator, Sebi, has imposed a ban on Dewan Housing Finance Ltd’s former CMD, Kapil Wadhawan, ex-director Dheeraj Wadhawan, and four others from participating in securities markets for up to five years due to financial misconduct, including fund diversion and falsifying records. The additional individuals sanctioned by Sebi are Rakesh Wadhawan (non-executive chairman), Sarang Wadhawan (former non-executive director), Harshil Mehta (joint managing director & CEO), and Santosh Sharma (former CFO). Sebi has also levied fines totaling Rs 120 crore on the six individuals involved. Kapil Wadhawan and Dheeraj Wadhawan have each received a five-year ban, while Rakesh…