The market regulator has suspended trading in Bharat Global Developers Ltd's (BGDL) shares until further notice over allegations of fraudulent activities and false disclosures, in an unprecedented crackdown.
The suspension, effective immediately, follows a probe that found significant irregularities in the company's financials and operations.
While the Securities and Exchange Board of India (Sebi) has barred promoters from accessing markets in suspicious cases in the past, according to regulatory experts, this is the first time that the regulator has halted trading of a company in the public market.
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