SEBI Settles Indiabulls Real Estate Fund Diversion Case

SEBI settlement order disposes proceedings against four promoter-connected entities for fund diversion from Indiabulls Real Estate subsidiary.
Four companies collectively pay ₹10.49 crore settlement amount for alleged PFUTP violations during 2009-10 to 2016-17 investigation period.
Entities violated SEBI Act Section 12A(b)(c) and PFUTP Regulations 3(c)(d) and 4(1) through layered fund diversion via conduit entities.
Settlement approved without admission of guilt, with SEBI retaining rights to reopen proceedings for breach of terms.