Sebi slaps Rs 17 lakh fine on entities, individuals for irregularities in Timbor Home IPO

NEW DELHI: Markets regulator Sebi on Tuesday levied a total fine of Rs 17 lakh on six individuals and two entities for irregularities in the initial public offering (IPO) of Timbor Home Ltd (THL).

A fine of Rs 6 lakh has been imposed on Anant Sureshchandra Maloo and Manan Vidhyapati Patel, payable jointly or severally.

Collectively, Wood Star (India) Pvt Ltd, Rohit Babulal Patel and Diptiben Rohitbhai Patel are facing a fine of Rs 5 lakh. Ajay Sureshchandra Maloo and Nina Ajay Maloo have been fined Rs 5 lakh.