Round Tripping

How 3 European banks helped bring back black money as foreign funds

At least three large European banks' dealings with Indian companies and individuals are being probed for alleged round-tripping of funds by using certain multi-layered transactions in violation of regulator Sebi norms.<br /><br />

Transgene GDR case: Sebi must rope in taxmen to check round tripping angle

The Sebi on Friday barred promoters and directors of Transgene Biotek from dealing in securities of any kind till further notice, on charge of defrauding shareholders. The 3 promoters-K Koteshwar Rao, Nirmala Rao and K Srinivas-and three directors-PK Ghosh, SS Marthi and NM Pentyala-have been slapped with Fraudulent and Unfair Trade Practices (FUTP) violations.