Suspend CEO for failing to report fraud that was evident: SEBI to Embassy Office Parks

Suspend CEO for failing to report fraud that was evident: SEBI to Embassy Office Parks

SEBI has ordered Embassy Office Parks to suspend CEO Aravind Maiya. This comes after the NFRA found negligence on Maiya's part in the audit of Coffee Day Enterprises, where funds were diverted to related party without approvals. "He failed to audit and report a fraud which was evident in all the financial information he was supposed to vet," SEBI said.