Mishtann Foods shares crash 20% after Sebi ban

Mishtann Foods shares fell 20% on Friday.

Sebi has restrained Mishtann Foods and its promoter from the securities markets.

This is due to alleged financial mismanagement and fraudulent transactions.

The company must return nearly Rs 100 crore.

ALLEGATIONS AND FINDINGS

Mishtann Foods engaged in circular trading with fictitious entities.

These transactions inflated financial performance, misleading investors.

The number of public shareholders rose sharply from 516 to 4.23 lakh.

Also Read:

Hiteshkumar Patel offloaded shares, raising Rs 50 crore.

Sebi suspects timing to harm retail investors.

An inquiry is pending against 24 entities, including Mishtann Foods.

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