Brightcom ex-officials settle SEBI financial reporting probe, pay ₹12.35 lakh

• Two former Brightcom Group Ltd (BGL) officials settled a financial reporting probe case with SEBI over alleged misstatements in financial statements from 2014-15 to 2019-20.
• SEBI investigated discrepancies in Brightcom's financial disclosures, leading to a show cause notice against former compliance officer M Manohar and former Non-Executive Independent Director M Vijaya Bhasker Reddy.
• Manohar was accused of failing to disclose a forensic audit and inaccurate shareholding reporting; Reddy for not ensuring accurate financial statements.
• Both officials paid Rs 12.35 lakh each as settlement amounts.
• Manohar is barred from associating with Brightcom for one year, and Reddy for two years, as part of the non-monetary settlement terms.

Why It Matters: Regulators are holding officials accountable for financial reporting misconduct.