Varanium Cloud
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Fraud concerns raise red flags for India’s booming tiny IPOs
A string of accounting frauds unearthed by India’s securities regulator this month poses another risk to the blistering rally in shares of tiny businesses.
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SEBI bans SME firm from capital market for misusing IPO proceeds
Capital markets regulator SEBI has passed an interim order against Varanium Cloud, a company listed on NSE’s SME platform, banning the company and its managing director from accessing the securities market until further notice. The latter has been restrained from acting as a director or key managerial personnel of any listed company or its subsidiary.