Archive · 31 May 2025
SEBI Confirms Ban on LS Industries and Others Amid Fraud Probe
SEBI, the market regulator, has banned LS Industries, its promoter Profound Finance, and four others from trading.
This action is due to suspected fraud and manipulation of the company's share price.
The company's stock price skyrocketed despite having little to no revenue.
An investigation, which started in February, will continue until November 15.
The regulator previously issued an interim order, and the investigation centres around artificial inflation of the company's stock.
SEBI confirmed the market ban on LS Industries, its promoter, and four others.
The ban follows an investigation into alleged fraud and share price manipulation.
The investigation's completion date has been extended to November 15.
The share price of LS Industries rose dramatically despite poor financials.
SEBI previously issued an interim order in February 2025.
- Who
- LS Industries, its promoter Profound Finance, Jahangir Perumbarambathu, Suresh Goyal, Alka Sahni, and Shashi Kant Sahni HUF
- What
- SEBI confirmed the market ban on LS Industries and others.
- When
- Confirmed on May 31, 2025, with investigation extended to November 15
- Where
- Securities Markets
- Why
- Due to alleged fraudulent activities and stock price manipulation.
- Entities Banned
- LS Industries, Profound Finance, Jahangir Perumbarambathu, Suresh Goyal, Alka Sahni, and Shashi Kant Sahni HUF
- Reason for Ban
- Fraud and stock price manipulation
- Investigation Completion Date
- November 15
- Share Price Surge Period
- July 23 to September 27, 2024
- Share Price Increase
- From Rs 22.50 to Rs 267.50
- Unlawful Gains
- Rs 1.14 crore to be returned by Perumbarambathu
