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The Reserve Bank of India (RBI) has imposed restrictions on JM Financial Products Ltd, directing the company to cease all forms of financing against shares and debentures, including loans for Initial Public Offerings (IPOs). This action is effective immediately. Additionally, the Securities and Exchange Board of India (SEBI) has barred JM Financial from taking new mandates as a lead manager for bond issuances, further deepening the company's troubles in the financial market.
Indian watchdog bars JM Financial from managing new bond issues https://t.co/gJe9pLEFDL https://t.co/dv9a8IM8cN
Sebi bars JM Financial from acting as lead manager of any public debt issue https://t.co/PgSPYXWNXD via @moneycontrolcom
India’s capital market regulator has barred JM Financial Services from acting as a manager for any public issue of debt by Indian companies https://t.co/jBdBWF17Kq