Manpasand Beverages | ‘Fake’ company, GST fraud & more; Here's how SEBI unfolded this corporate scam

2 weeks ago 5

1 min read 02 May 2024, 07:58 PM IST Trade Now

Manpansand Beverages' apical officials person been asked to wage penalties totaling ₹74 lakh by SEBI for violations including misstating and manipulating fiscal statements.

Manpasand Beverages Ltd and its 3 apical officials person been barred from the securities markets for 3 years. SEBI imposed a punishment of ₹68 lakh for manipulating the company's fiscal statement.

Manpasand Beverages Scam: Capital markets regulator Securities and Exchange Board of India (SEBI) has barred Manpasand Beverages Ltd (MBL) and its 3 apical officials from the securities markets for 3 years and imposed a punishment totalling ₹68 lakh connected them for manipulating and mis-stating the company's fiscal statement.

In its order, the regulator said that the fiscal statements of the institution were manipulated and mis-stated for fiscal years 2018-19 and 2019-20.

much to come

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Published: 02 May 2024, 07:58 PM IST