Frauds on the rise with modes more ingenious: Sebi chief Tuhin Kanta Pandey

SEBI Chairperson Tuhin Kanta Pandey highlighted the misuse of preferential allotments and misleading disclosures by companies, harming retail investors. He cited instances of funds raised being siphoned off through complex transactions and forged bank statements. Assets were transferred to subsidiaries to repay promoter-linked entities' obligations.