Sebi Lifts Ban on Bharat Global Developers with New Conditions

Sebi has permitted trading in Bharat Global Developers Ltd (BGDL) shares, on condition that the company discloses financial data for FY 2024-25 before April 15, 2025. Previously, trading was halted due to financial misrepresentation. Sebi continues restrictions on company officials amid ongoing investigations.

The Securities and Exchange Board of India (Sebi) has conditionally lifted its trading suspension on Bharat Global Developers Ltd (BGDL), allowing its shares to be traded provided key financial figures for the fiscal year 2024-25 are disclosed prior to April 15, 2025.

Sebi had initially suspended trading in BGDL shares due to allegations of financial misrepresentation and price manipulation. The interim order included several restrictions on the company and its executives. While trading is set to resume, these restrictions remain effective until further notice.

Investors' complaints about being unable to liquidate BGDL shares led to this development. However, Sebi's investigation continues as the company failed to substantiate its financial statements or provide evidence of legitimate business operations, leaving significant uncertainties surrounding its alleged high-value contracts.

(With inputs from agencies.)