SEBI bans Rana Sugars promoters for fund diversion; falls 10%

Rana Sugars share falls 10% to ₹21 per share after SEBI imposed two-year ban on its promoters and officials and ₹63 crore fine for fund diversion and financial misstatements. The investigation uncovered misuse of funds through intermediaries. SEBI also directed the company to recover ₹607 crore from related entities, including ₹339 crore in receivables and ₹268 crore in interest dues.