SEBI fines TIL, execs ₹2.5 cr for faking transactions to get loans

SEBI has imposed a total fine of ₹2.5 crore on material-handling equipment manufacturer TIL Ltd, its chairman and former executives. The penalty has been imposed for logging fictitious transactions and misstating financial numbers to keep availing credit facilities from banks. The fine has to be paid within 45 days, SEBI said in its order.