India’s SEBI Bars Bombay Dyeing, Founders from Stock Trading (2)

India’s market regulator suspended Bombay Dyeing & Manufacturing Co. and three of its founders from stock trading for up to two years on allegations of misrepresentation of financial accounts.

The Securities and Exchange Board of India also barred an unlisted unit, Scal Services Ltd., and five officials following investigation of Bombay Dyeing’s financial statements after it received complaints, according to an order posted on the regulator’s website.

Read: India’s SEBI Bars Ex-Billionaire Anil Ambani from Capital Market

Bombay Dyeing said on Sunday it would appeal the SEBI order. “The company is quite firm in its view that all transactions were ...