Religare Finvest ex-CEO fined ₹5 cr, banned from market for 2 yrs

Former Religare Finvest (RFL) CEO Kavi Arora has been banned from the securities market by SEBI for two years for allegedly diverting ₹2,473.66 crore from company books, the market regulator said. SEBI has also imposed a fine of ₹5 crore on Arora. The alleged diversion of funds took place from the financial year 2014-15 to 2017-18, SEBI added.