Sebi Clears Rekha Kurani in V Marc India IPO Case

Sebi lifted restrictions on Rekha Kurani after finding no evidence of her involvement in V Marc India IPO irregularities. The interim order had restrained her, along with others, from the securities market and sought withdrawal of alleged wrongful gains. Sebi's investigation found her non-involvement.

The Securities and Exchange Board of India (Sebi) has lifted all restrictions against Rekha Kurani, initially accused of involvement in fraudulent activities surrounding the public offering of V Marc India Ltd. Sebi's investigation concluded Kurani had no connection to the alleged irregularities.

The initial interim order, issued in February 2024, had restrained Kurani and eleven others from participating in the securities market, demanding them to return any wrongful gains accrued. Sebi's findings have exonerated Kurani, revoking the restrictions.

This case highlighted fraudulent trading activities orchestrated primarily by V Marc India Ltd's promoter and management. Sebi's final decision reflects the absence of evidence implicating Kurani, emphasizing the interim nature of the previous directives.

(With inputs from agencies.)