Sebi has barred Amadhi Investments for 10 years from the capital markets and directed it to disgorge about Rs 78 lakh for indulging in fraudulent and manipulative activities in the IPOs of three companies. The Securities and Exchange Board of India (Sebi) found that Amadhi Investments financed Sugandh Estates and Investments in the IPOs of IDFC, Sasken and FCS Software Solutions with the purpose of cornering shares reserved for retail investors.