Mumbai, Aug. 3 -- Sebi has restrained ZEEL from accessing the securities market for two months and imposed a penalty of Rs 30 lakh. The regulator also barred founder Subhash Chandra and managing director and chief executive officer Punit Goenka from the securities market for 12 months each. It imposed penalties of Rs 60 lakh on Chandra and Rs 58 lakh on Goenka.

The regulator's investigation was initiated after ZEEL's statutory auditor, Deloitte Haskins & Sells LLP, reported in its FY19 audit that the title deeds of certain immovable properties were missing.

According to Sebi's final order, the original title deeds of ZEEL's Hyderabad land were deposited with Indiabulls Housing Finance on 27 December 2018 to create a first-ranking mortga...