SEBI bans DHFL's Wadhawan brothers from securities markets

The Securities and Exchange Board of India has banned Dewan Housing Finance Corporation's (DHFL) former CMD Kapil Wadhawan and ex-director Dheeraj Wadhawan from the securities markets for up to five years. The market regulator has also imposed a penalty of ₹27 crore each on both for diverting funds and fabricating books. Wadhawans were the promoters of the housing finance company.