The Securities and Exchange Board of India (Sebi) has barred Securekloud Technologies (STL) and its three directors from the securities markets for a period ranging from one to three years and imposed total penalties of Rs 10 crore on them for allegedly misrepresenting the financials of the company.
The Sebi order has also prohibited three company directors -- Suresh Venkatachari, RS Ramani and Gurumurthi Jayaraman -- from being associated as a director or key managerial personnel in a listed company or an intermediary from six months up to one year. Sebi slapped a fine of Rs 4 crore on STL, Rs 3 crore on Venkatachari, Rs 2 crore on Ramani and Rs 1 crore on Jayaraman. They have been directed to pay the penalty within 45 days.
SecureKloud is a cloud native company with a combination of products, frameworks and services, designed to solve problems around Blockchain, Cloud, Enterprise Security, Decision Engineering and Managed Services.
