SEBI’s strictures and fines against the Chennai-based company and its leadership may be a case of too little, too late.
In December, the Securities and Exchange Board of India issued an order against
Chennai-based SecureKloud Technologies (previously known as 8K Miles Software Services) and some of its key management personnel.
The market regulator found the company and three of its directors guilty of misrepresenting financials as well as siphoning funds. It imposed penalties adding up to Rs 10 crore and barred the company and three individuals—Suresh Venkatachari, R.S. Ramani and Gurumurthi Jayaraman—from accessing the securities market for a period ranging from one to three years. In the case of Venkatachari, the company’s CEO, the penalty was Rs 3 crore and …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai