SEBI BARS AUSTRAL COKE FUND RAISING

The capital market regulator Securities and Exchange Board of India (SEBI) has barred Austral Coke and Projects Ltd. from raising further funds from the capital market till further orders. An investigation by the income tax department on the residential and business premises of Austral Group revealed that the company has shown bogus purchase and sales worth Rs. 553 crore and Rs. 495 crore, respectively, in the accounts books of the company.