Markets regulator SEBI on Thursday barred former Religare Finvest Ltd CEO Kavi Arora from the securities market for two years and imposed a fine of Rs 5 crore in connection with a case of fund diversion. The case relates to the diversion of funds to the tune of Rs 2,473.66 crore of Religare Finvest Ltd (RFL), a subsidiary of Religare Enterprises Ltd (REL), from FY2014-15 till FY2017-18, in the garb of loans through layers of entities for the ultimate benefits of entities controlled by the erstwhile promoters -- Malvinder Mohan Singh and Shivinder Mohan Singh.