Bhubaneswar, Sept. 30 -- Mumbai: The Securities and Exchange Board of India (SEBI) has barred four individuals, including Yashovardhan Birla, the Chairman of Yash Birla Group, from the markets in relation to manipulation in issuance of global depository receipts (GDR) by Birla Cotsyn (India) Ltd way back in 2010.

Birla Cotsyn (India) Ltd (BCIL) is currently undergoing liquidation proceedings under the Insolvency and Bankruptcy Code (IBC).

The other individuals barred from the securities market are P.V.R. Murthy, Y.P. Trivedi, and Mohandas Adige.

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The SEBI had sent a show-cause notice to the four of them and BCIL, alleging that BCIL issued 9.69 million GDRs, amounting to...