SEBI barred Man Industries, its Chairman Ramesh Mansukhani, MD Nikhil Mansukhani, and CFO Ashok Gupta, from the securities markets for two years over alleged fund diversion. The firm failed to consolidate its unit, Merino Shelters, in its financials between FY16 and FY21, misrepresented related-party transactions, and hid its losses. SEBI is seeking ₹1 crore from Man Industries and the executives.