Former Brightcom Group Officials Settle Sebi Case, Pay ₹12.35 Lakh Each

• Former Brightcom Group officials, M Manohar and Vijaya Bhasker Reddy, settled a case with Sebi for flouting regulatory norms.
• Each official paid Rs 12.35 lakh to Sebi as part of the settlement.
• Manohar, former compliance officer, was accused of failing to disclose a forensic audit and incorrect shareholding pattern disclosure.
• Reddy, a non-executive independent director, was accused of not ensuring accurate financial statements.
• As part of the settlement, Manohar is barred from associating with BGL for one year, and Reddy for two years.

Why It Matters: It highlights regulatory accountability for corporate governance failures.