SEBI bans Varanium Cloud and its MD, Harshwardhan Sabale, from securities market for IPO misuse and financial statement manipulation.

SEBI has banned Varanium Cloud and its managing director, Harshwardhan Hanmant Sabale, from the securities market until further notice for misusing IPO proceeds and manipulating financial statements. The company was listed on NSE's SME platform. SEBI has also restrained Sabale from acting as a director or key managerial personnel of any listed company, registered intermediary, or company intending to raise funds from the public.

May 10, 2024
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