Archive · 2 Jun 2025
SEBI Confirms Market Ban on LS Industries After Probe
SEBI, which watches over the stock market, has decided that LS Industries and some people connected to it can't trade stocks for now.
This is because there are claims they did some tricky things to make the company's stock price go up unfairly.
Despite the company not making much money, its stock price shot up a lot, which raised suspicion.
The authorities are looking into what happened, and they've told the people involved to help with the investigation.
The investigation will continue until November.
SEBI has confirmed the market ban on LS Industries, its promoter, and four others.
The ban follows allegations of fraudulent activities and stock price manipulation.
The entities are prohibited from the securities markets until the probe concludes.
The investigation's timeline has been extended to November 15.
LS Industries' share price rose significantly despite negligible revenue.
- Who
- SEBI, LS Industries, its promoter, and four others
- What
- Confirmatory order to maintain ban after allegations of fraudulent activities and stock manipulation.
- When
- Confirmed on Friday, May 30
- Where
- Securities markets
- Why
- Due to alleged fraudulent activities and stock price manipulation.
- Entities Banned
- LS Industries, promoter, and four others
- Reason for Ban
- Fraudulent activities and stock price manipulation
- Date of Interim Order
- February 11, 2025
- Perumbarambathu's Unlawful Gains
- Rs 1.14 crore
- Investigation Completion Deadline
- November 15
- Share Price Increase
- Rs 22.50 to Rs 267.50