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SEBI levies penalty of Rs 10 crore on 3 promoters of Man Industries

The Securities and Exchange Board of India (SEBI) has levied a penalty of Rs 10 crore on three promoters of Man Industries for failing to make an open offer to the company’s shareholders. The three promoters are JPA Holdings, Nikhil Mansukhani and Anita Mansukhani.

Man Industries (India) is engaged in manufacturing of LSAW Line Pipes, Hsaw Line Pipes and Aluminium Extruded Products. The main business line includes manufacturing & coating of Large Diameter Carbon steel pipes, Infrastructure, Realty & Trading.

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