Sebi has imposed penalties totalling ₹33.08 crore on Varanium Cloud, promoter Harshawardhan Sabale and seven others over alleged financial misrepresentation and diversion of IPO and rights issue proceeds. The regulator has also barred Varanium Cloud and Sabale from the securities market for seven years and ordered the promoter to disgorge ₹128.77 crore in alleged unlawful gains.
