Sebi imposes Rs 58.5 crore penalty on Seya Industries’ top executives for financial fraud and fund diversion

SEBI has penalized four Seya Industries officials, including Ashok and Amrit Rajani, with ₹58.5 crore for allegedly diverting ₹81.26 crore to promoter-linked firms and falsifying financial statements. The regulator barred them from the securities market for five years and directed Amrit Rajani to return the siphoned funds with 12% interest.