Man Industries (India) Ltd on Tuesday said the Securities Appellate Tribunal (SAT) has granted a stay on capital markets regulator Sebi’s order that barred the company and its three senior executives.
The stay is conditional on the deposit of 50 per cent of the penalty amount, the company said.
In its statement, Man Industries said “On October 10, 2025, SAT granted a stay on the entire Sebi order dated September 29, 2025, which was passed against the company and three other noticees.”
On September 29, Sebi barred Man Industries and its three senior executives from accessing the securities markets for two years and imposed a fine of Rs 25 lakh on each of them for alleged financial misstatement.
Those penalised included Ramesh Mansukhani, Chairman of Man Industries; Nikhil Mansukhani, Executive Director; and Ashok Gupta, former Executive Director and current CFO.
In its order, Sebi had noted that the financial statements of Man Industries (India) Ltd (MIIL) for the financial years .​Man Industries (India) Ltd on Tuesday said the Securities Appellate Tribunal (SAT) has granted a stay on capital markets regulator Sebi’s order that barred the company and its three senior executives.
The stay is conditional on the deposit of 50 per cent of the penalty amount, the company said.
In its statement, Man Industries said “On October 10, 2025, SAT granted a stay on the entire Sebi order dated September 29, 2025, which was passed against the company and three other noticees.”
On September 29, Sebi barred Man Industries and its three senior executives from accessing the securities markets for two years and imposed a fine of Rs 25 lakh on each of them for alleged financial misstatement.
Those penalised included Ramesh Mansukhani, Chairman of Man Industries; Nikhil Mansukhani, Executive Director; and Ashok Gupta, former Executive Director and current CFO.
In its order, Sebi had noted that the financial statements of Man Industries (India) Ltd (MIIL) for the financial years . ​Latest News [ SOBAN NEWS: International and National ]
