- SEBI banned Rana Sugars’ promoters and others from the securities market for two years.
- 14 entities including, Rana Sugars promoters and other related entities have been debarred by the markets regulator Securities and Exchange Board of India (SEBI) for two years.
- A ₹63-crore fine was also imposed on charges of diversion of funds.
- The regulator also prohibited Inder Pratap Singh Rana (promoter), Ranjit Singh Rana (chairman), Veer Pratap Singh Rana (MD), and Gurjeet Singh Rana from holding any position as director or key managerial person of any other listed company for two years.
- SEBI imposed penalties of ₹3 crore to 7 crore on Rana Sugars, its promoters, and other related entities.
- SEBI also directed Rana Sugars to recover ₹607 crore from related entities including ₹339 crore in receivables and ₹268 crore in interest dues.
The regulator directed Rana Sugars to take all necessary steps to recover dues from these entities and advised them to appoint an independent law firm to take effective steps to recover