Parsvnath barred from investing in securities market for 6 mths

Sebi has barred Parsvnath Developers from the securities market for six months and imposed a penalty of INR 15 lakh on the company for flouting listing rules. Sebi found that Parsvnath Developers Ltd (PDL) failed to make provision for the outstanding amount in ledger accounts of contractors and sub-contractors and also failed to comply with Accounting Standards which deal with construction contracts.