SEBI bans Brightcom Group and leaders for five years over financial fraud and misstatements.

The Securities and Exchange Board of India (SEBI) has banned the Brightcom Group and its five entities from the securities market for five years due to financial irregularities and misstatements from 2014-15 to 2019-20. Former chairman M Suresh Kumar Reddy and director Vijay Kancharla were also banned and fined ₹15 crore each. SEBI accused the company of defrauding investors and enabling promoters to sell shares at inflated prices. The group must now disclose accurate financial statements for their subsidiaries.