Mignon du Preez: 'I've got this new hunger to get back on the field again', UPDATE 1-India, 'pharmacy of the world', starts COVID vaccine exports, 6 Healthy Noodles You Should Be Eating, According to a Dietitian, India’s new tourism model is small local rentals, homestays. Mumbai: Regulator Sebi has banned Yashovardhan (Yash) Birla from the market for two years. On a Prayer book launch Photogallery. After Getting Delayed Akshay Kumar's Bell Bottom Makers Exploring The Option Of Releasing The Film Directly On Digital? Snapped: Nandita Das attends book launch - While Nandita Das attended the launch of a book on feminism and other issues, Yash Birla was spotted at a wine festival in Nashik Find the best deals. MUMBAI: Regulator Sebi has banned Yashovardhan (Yash) Birla from the market for two years. According to reports, an amount of over Rs 30 crore is untraceable. Owned by the US-based Walmart, Flipkart is paying a premium of nearly 34% for each ABFR share at Rs 205 compared to Thursday’s close on the BSE (24% from Friday’s), according to regulatory filings. Yash Birla,Aditya chopra, Sunny Deol, Akshay khanna, Akshay kumar, Sunil shetty are gay. Yash Birla and Shobhaa De chats during the launch of book 'On a Prayer', held at Crossword, Inorbit Mall in Mumbai. According to the 61-page order by Sebi whole-time member Ananta Barua, Birla Medspa opened its Rs 65-crore IPO in June 2011 and the shares were listed on July 7 in the same year. SEBI said that while around 75% of the proceeds were promised to be utilised in setting up of Evolve Med Spa centres under the 'objects of the issue' in the prospectus, no such centres have been set up ultimately. Get all the latest news and updates on Yash only on News18.com. Most of these firms are credit score defaulters. “On the contrary, around 50% of the IPO proceeds were deployed as ICDs (inter-corporate deposits) to group companies, out of which 60% of ICDs were never returned to the company,” the order pointed out.Along with Yash, 10 other entities have been banned from the market for two years, while another one has been banned for six months. Today the Yash Birla Group is a well diversified entity with a turnover of over INR 30 Billion. Save up to ₹30,690*. Sebi also banned several others associated with Yash for their roles in the same matter. Another romance appears to have bitten the dust. The action is due to misutilization of funds collected through the initial public offering of Birla Pacific Medspa in mid-2011, including using the proceeds from the offer to manipulate the stock price. birla Blogs, Comments and Archive News on Economictimes.com screengrabValencia College President Sandy ShugartLast week, Valencia College came under intense scrutiny when two female students alleged in a federal lawsuit Yash Birla and Avanti Birla during the launch of Ananya Birla's debut single Livin’ the Life (LTL) in Mumbai. 2021 budget needs to catch up, 2021 Tata Altroz iTurbo review: Well balanced, but something missing, Leaving Camera On During Video Calls, Streaming Videos in HD Increases Your Carbon Footprint, Study Finds, Italy police recover stolen painting of Leonardo da Vinci school, museum unaware of theft, 'Asked me to feel his private part': After Jiah Khan's sister, Sherlyn Chopra accuses Sajid Khan of sexual misconduct, Okuhle Cele, Ryan Rickelton, Jacques Snyman get maiden South Africa call-ups, Vivo Y31 With Triple Rear Cameras, Snapdragon 662 SoC Launched in India, Priced at Rs 16,490, The best way to lose those kilos? Yashovardhan Birla, Chairman of the Yash Birla Group, has been suspended from the stock market by SEBI, twice in just a month. Read Exclusive COVID-19 Coronavirus News updates, & Health Tips from India and World at Asianet Newsable. In fact, the prospectus never contemplated that funds would be deployed as ICDs to group companies within five days from the receipt of IPO proceeds without any event of exigency," Sebi noted. A top executive of the Yash Birla group of companies was detained from a five-star hotel in South Mumbai by officials of the Narcotics Control Bureau (NCB) for alleged drug possession late on Friday night. On the listing day, the stock had closed 154% up over its IPO price despite the company having a rating that indicated “below average fundamentals”. This is the second time in a month that an order banning Yash Birla from entering the stock market has been issued by SEBI. The investigation by Sebi also found that despite the company’s promise to set up spa centres across the country, none have come up so far. ‘Going bananas’: Men on Instagram show off new beard look inspired by monkey’s tail! 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In its probe, SEBI found that company made misstatements in the Rs 65 crore IPO prospectus of Birla Pacific Medspa Limited. Play The virtual Boat Racing Game and challenge yourself Click to Play Now. Yash Birla barred from securities market for 2nd time in a month Wed, Oct 28 TikTok teams up with Shopify to boost e-commerce Wed, Oct 28 Cognizant names Rajesh Nambiar as India MD & Chairman Wed, Oct 28 Apple TV+ partners Emmy award-winner Jon Stewart Wed, Oct 28 Earlier this month as well, in another case, Sebi had banned Yash from the market for two years. Under the management of his four sons, J.K. Birla, R.D. Mumbai: Yashovardhan Birla, Chairman of Yash Birla Group has been barred from the securities market by SEBI twice in just a month’s time. The growing business interests of the Birla brothers led to a split in the companies and assets. Yash Birla has been banned from the securities markets for two months for mis-utilisation of initial public offering proceeds. 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