SEBI bars JM Financial from lead management in debt issuance
SEBI Bars JM Financial from Lead Management in Debt Issues Indian Capital Markets Regulator Takes Action In a move that could shake up the Indian debt issuance scene, the Securities and Exchange Board of India (Sebi) has barred JM Financial from acting as the lead manager for any new public issues of debt securities. This decision comes after allegations of fraudulent practices by JM Financial during a recent debt issuance. Allegations Against JM Financial Sebi alleges that JM Financial engaged in activities that could harm the integrity of the market and mislead investors. These activities reportedly included: Incentivizing Investors: JM Financial is alleged to have offered incentives to certain investors to encourage them to participate in a public debt issue. Predetermined Transactions: Sebi suspects that JM Financial may have conducted transactions in a pre-determined manner to ensure the success of the debt issue. This could involve manipulating subscriptions to create artifi