The Securities and Exchange Board of India (SEBI) has imposed a penalty of ₹50 lakh on three former officials of Future Retail Ltd (FRL) for failing to comply with disclosure rules. This includes Kishore Biyani, who served as the chairman and managing director, along with former managing director Rakesh Biyani and ex-chief financial officer CP Toshniwal. The penalty highlights SEBI's commitment to enforcing corporate governance standards among top executives. In a separate development, private equity firms including Peak XV Partners and Sequoia Capital sold a 4.71% stake in Billionbrains Garage Ventures, the parent company of stock broking platform Groww, for ₹5,326 crore. The transaction involved the sale of 295.2 million shares at ₹180.4 each, reflecting a higher volume than initially planned. Additionally, Kotak Mahindra Asset Management Company announced the successful closing of its first private credit alternative investment fund, raising commitments exceeding ₹2,000 crore.