The Man Industries share price plunged nearly 13 per cent on Tuesday following the company’s announcement on a long-pending matter with the Securities and Exchange Board of India (SEBI).

SEBI order imposes Rs 25 lakh penalty, Two-year bar on trading

As per the SEBI order dated September 29, a penalty of Rs 25 lakh has been imposed on the company. The regulator has also barred Man Industries from trading in shares of other firms for two years.

In a regulatory filing on September 30, the company said the case, linked to the non-consolidation of its subsidiary Merino Shelters and minor compliance lapses between FY15-FY21, has been resolved. The company said this will not impact its financial position and clarified that the restriction will not affect operations, as such activity is n

See Full Page