<h1>Six Executives Banned for 3-5 Years, Fined Rs 120 Crore for Fraudulent Loan Scheme and Account Manipulation</h1> A securities regulator barred six former executives and directors of a housing finance company from the securities market for three to five years and imposed fines totaling Rs 120 crore for financial irregularities, fund diversion, and falsification of accounts. The individuals orchestrated a fraudulent scheme from 2006 involving the extension of unsecured loans to related entities lacking assets or business, which were misrepresented as retail housing loans. This was achieved through fabricated branch operations and manipulated accounting software to conceal the true nature of the loans, resulting in fictitious interest income and inflated profits that misled investors and distorted the company's share price. The banned individuals are prohibited from accessing the securities market or holding key roles in listed or public companies during the ban period. The investigation revealed that billions of rupees were disbursed to related entities, with a significant portion routed further to other promoter-connected entities.