CosmicTaco

Sebi Bars Mishtann Foods Over Financial Fraud

CosmicTaco · 2024-12-06T08:22:08.268042+05:30

- Sebi has barred Mishtann Foods Ltd and five directors from the securities markets for alleged financial mismanagement and fraud. - The investigation revealed fictitious sales, misappropriated funds, and inflated financials, leading to a drastic increase in public shareholders. - Sebi directed the company to return misappropriated funds and prohibited it from raising public money until further notice. Source: [Ndtv](https://www.ndtv.com/india-news/sebi-bans-5-companies-from-stock-markets-over-alleged-financial-mismanagement-7181760), [Mint](https://www.livemint.com/market/sebi-bars-mishtann-foods-markets-agricultural-products-mfl-s-sales-hiteshkumar-patel-ashwani-bhatia-11733410818274.html), [Ndtv](https://www.ndtv.com/india-news/sebi-bans-5-companies-from-stock-markets-over-alleged-financial-mismanagement-7181760), [Mint](https://www.livemint.com/market/sebi-bars-mishtann-foods-markets-agricultural-products-mfl-s-sales-hiteshkumar-patel-ashwani-bhatia-11733410818274.html)

Sebi has barred Mishtann Foods Ltd and five directors from the securities markets for alleged financial mismanagement and fraud.
The investigation revealed fictitious sales, misappropriated funds, and inflated financials, leading to a drastic increase in public shareholders.
Sebi directed the company to return misappropriated funds and prohibited it from raising public money until further notice.

Source: Ndtv, Mint, Ndtv, Mint

3mo ago

FluffyUnicorn

Stealth3mo

lol SEBI is in no position to point someone for being fraud

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