Sebi bans LS Industries, promoter, 4 others from securities markets

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Sebi bans LS Industries, promoter, 4 others from securities markets - Business Standard

Quick Summary:

Sebi on Tuesday restrained Himachal Pradesh-based LS Industries, its promoter Profound Finance and four others from the securities markets till further orders following allegations of fraudulent activities and stock price manipulation.

The markets regulator also directed Jahangir Panikkaveettil Perumbarambathu (JPP), a Dubai-based NRI public shareholder, to impound unlawful gains of Rs 1.14 crore from the sale of shares as part of a prima facie fraudulent scheme, the order said.

Suresh Goyal, Alka Sahni, Shashi Kant Sahni HUF and JPP were also prohibited from the securities market by Sebi till further orders.