Further, the watchdog said that Anil Biyani placed order on behalf of Future Corporate Resources. Then, Kishore Biyani and Anil Biyani authorised transfer of funds to Indiabulls for purchase of FRL shares in the name of Future Corporate Resources. In addition, FCRL Employee Welfare Trust purchased FRL shares during the UPSI period and made notional unlawful gains to the tune of Rs 2.75 crore. In this case, Rajesh Pathak and Rajkumar Pande were the persons who took the decision of trading by the company, as per the order. Sebi imposed a penalty of Rs 25 lakh each on Pathak and Pande who were employees of Future Corporate Resources. Besides, they have been prohibited from the securities market for one year. Further, two other individuals have also been penalised in the case. The regulator has restrained Biyanis, Future Corporate Resources and the two employees from trading in FRL shares for two years.