Elderly Woman Convicted Over Rs 5 Lakh SEBI Fine

A special court convicted 64-year-old Shila Baburao Suryawanshi for not paying a Rs 5 lakh fine levied by SEBI in 2012 for circular trading. Despite finding her guilty, the court did not impose a jail term due to her age and medical condition, but increased the fine to Rs 7 lakh.

A special court has convicted 64-year-old Shila Baburao Suryawanshi for failing to pay a Rs 5 lakh fine imposed by SEBI in 2012 for circular trading violations.

The ruling, delivered on September 4, concluded a decade-long prosecution following her failure to comply with the penalty.

Given her age and medical ailments, the court refrained from imposing a jail term and instead directed her to pay an increased fine of Rs 7 lakh.

(With inputs from agencies.)