SAT stays SEBI penalty, market ban against Man Industries for alleged fund diversion

Man Industries (India) Ltd said on Friday that the Securities Appellate Tribunal (SAT) has granted a stay on the Securities and Exchange Board of India’s (SEBI) order issued on September 29, 2025, providing interim relief to the company and three other noticees.

In a filing to the stock exchanges, the company said the SAT stay covers the entire SEBI order, including restrictions on accessing the securities market and monetary penalties, subject to a deposit of 50% of the penalty amount.

“The stay is on the entire order, including restraint from market access and penalties, with 50% deposit of the penalty,” the company said in the filing.

The original SEBI order had directed action against Man Industries and certain individuals for alleged violations of securities market regulations. The company had approached SAT challenging the order, which effectively bars it from market participation and imposes financial penalties.

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of Man Industries (India) Ltd ended trading at a price of ₹383.00 each on the BSE, 3.9% higher from last close. The stock has surged 42% over the last six months.

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