IANS LIVE-SEBI CONFIRMS ACTION AGAINST BHARAT GLOBAL DEVELOPERS FOR FAKE DISCLOSURES, OTHER VIOLATIONS
May 9, 2025
Fixtures
Result7 May 2025
Match 57
KKR
KKR
179/6 (20 ov)
CSK
CSK
183/8 (19.4 ov)
CSK won by 2 wickets
Result6 May 2025
Match 56
MI
MI
155/8 (20 ov)
GT
GT
147/7 (19 ov)
GT won by 3 wickets (DLS method)
Result5 May 2025
Match 55
SRH
SRH
0/0 ( ov)
DC
DC
133/7 (20 ov)
No Result
Result4 May 2025
Match 54
PBKS
PBKS
236/5 (20 ov)
LSG
LSG
199/7 (20 ov)
PBKS won by 37 runs
Result4 May 2025
Match 53
KKR
KKR
206/4 (20 ov)
RR
RR
205/8 (20 ov)
KKR won by 1 run
Result3 May 2025
Match 52
RCB
RCB
213/5 (20 ov)
CSK
CSK
211/5 (20 ov)
RCB won by 2 runs
Result2 May 2025
Match 51
GT
GT
224/6 (20 ov)
SRH
SRH
186/6 (20 ov)
GT won by 38 runs
Result1 May 2025
Match 50
RR
RR
117/10 (16.1 ov)
MI
MI
217/2 (20 ov)
MI won by 100 runs
Result30 April 2025
Match49
CSK
CSK
190/10 (19.2 ov)
PBKS
PBKS
194/6 (19.4 ov)
PBKS won by 4 wickets
Result29 April 2025
Match 48
DC
DC
190/9 (20 ov)
KKR
KKR
204/9 (20 ov)
KKR won by 14 runs
Result28 April 2025
Match 47
RR
RR
212/2 (15.5 ov)
GT
GT
209/4 (20 ov)
RR won by 8 wickets
Result27 April 2025
Match 46
DC
DC
162/8 (20 ov)
RCB
RCB
165/4 (18.3 ov)
RCB won by 6 wickets
Result27 April 2025
Match 45
MI
MI
215/7 (20 ov)
LSG
LSG
161/10 (20 ov)
MI won by 54 runs
Result26 April 2025
Match 44
KKR
KKR
7/0 (1 ov)
PBKS
PBKS
201/4 (20 ov)
No result
Result25 April 2025
Match 43
CSK
CSK
154/10 (19.5 ov)
SRH
SRH
155/5 (18.4 ov)
SRH won by 5 wickets
Result24 April 2025
Match 42
RCB
RCB
205/5 (20 ov)
RR
RR
194/9 (20 ov)
RCB won by 11 runs
Result23 April 2025
Match 41
SRH
SRH
143/8 (20 ov)
MI
MI
146/3 (15.4 ov)
MI won by 7 wickets
Result22 April 2025
Match 40
LSG
LSG
159/6 (20 ov)
DC
DC
161/2 (17.5 ov)
DC won by 8 wickets
Result21 April 2025
Match 39
KKR
KKR
159/8 (20 ov)
GT
GT
198/3 (20 ov)
GT won by 39 runs
Result20 April 2025
Match 38
MI
MI
177/1 (15.4 ov)
CSK
CSK
176/5 (20 ov)
MI won by 9 wickets

SEBI confirms action against Bharat Global Developers for fake disclosures, other violations

SEBI confirms action against Bharat Global Developers for fake disclosures

Mumbai, March 26 (IANS) The Securities and Exchange Board of India (SEBI) on Wednesday confirmed its action against Bharat Global Developers Limited (BGDL) for making fake disclosures, carrying out preferential allotment of shares and other violations.

The market regulator has extended its investigation timeline until June 30 for further scrutiny. In December last year, SEBI issued directions against BGDL, which have now been confirmed.

The regulator found that the company created a misleading narrative about its business in design, engineering, and construction to attract investors.

SEBI’s initial probe revealed that BGDL falsely claimed to have received orders from well-known companies, including a McCain Group entity, Reliance Industries Limited, UPL Limited, and the Tata Group.

However, the investigation found that the mentioned companies never placed any such orders, and the names used by BGDL were fabricated to resemble well-established firms.

The company specifically claimed orders from McCain India Agro Private, UPL Agro Private Limited, and Tata Agro & Consumer Products.

SEBI confirmed that no such subsidiaries exist under McCain, UPL, or Tata Consumer Products Limited.

The market regulator reinforced its restrictions on BGDL, prohibiting the company from buying, selling, or dealing in the securities market.

The company and its officials are also barred from associating with SEBI-registered intermediaries or listed companies.

The regulator found that BGDL’s management had replaced its leadership and approved a preferential allotment of shares to 41 selected investors.

These actions were part of a larger scheme to manipulate stock prices. SEBI’s findings indicated that these preferential allottees profited by selling shares at artificially inflated prices, causing losses to retail investors.

Between November 1 and December 20, 2024, over 2 per cent of BGDL’s shares were offloaded at manipulated prices, significantly impacting investors.

The number of public shareholders surged from 10,129 in September to nearly 45,000 by December, even though most of these shares were controlled by a small group of allottees.

SEBI had previously noted in a temporary order that allowing BGDL shares to continue trading would put retail investors at risk, as the company’s stock price had no connection to its actual business operations.

In addition to confirming its restrictions, SEBI has now moved to impound unlawful gains made by certain individuals who received company shares through preferential allotments earlier this year.