 "SEBI")
India's market regulator barred Man Industries and three of its top executives, including the chairman, from accessing the securities markets for two years over alleged fund diversion, according to an order issued on Monday.
The regulator found the company failed to consolidate its unit, Merino Shelters, in its financials between fiscal years 2015 and 2021, misrepresented related-party transactions, and engaged in round-tripping of funds to mask its financial position.
It will seek a penalty of 2.5 million rupees ($28,186.48) each from the pipes and steel products maker, its chairman Ramesh Mansukhani, managing director Nikhil Mansukhani, and former finance chief Ashok Gupta.
Sebi appointed a forensic auditor in November 2021 to examine the company's books of accounts during the investigation period.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
 "Container Corporation of India (Concor)")
 "FILE PHOTO: CEO of Patomak Global Partners LLC Paul Atkins takes part in a strategic and policy CEO discussion with U.S. President Donald Trump | REUTERS/Joshua Roberts/File Photo")
 "bank banks banking")
 "Premier engineering concern Bharat Forge has broadened its revenue streams by entering new non-auto segments and markets, resulting in the share of the auto business dropping to 58 per cent in the financial year 2024 (FY24) from 80 per cent (FY07). I")
 "Wall Street")
