(Source: MAN Industries Website) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Man Industries (India) Ltd. will recover Rs 600-700 crore from its arm Merino Shelters Pvt. Ltd. in the next four-five years, Managing Director Nikhil Mansukhani said on Tuesday.

Market regulator SEBI has barred the company and its three senior executives from accessing the securities markets for two years and imposed a fine of Rs 25 lakh on each of them for alleged financial misstatement.

In its order, SEBI noted that the financial statements of the company for the financial years 2015-16 to 2020-21 were "deliberately misstated". SEBI highlighted that Merino Shelters, a wholly-owned subsidiary, was excluded from consolidation after FY 2014-15 without any explanation.

"Merino Shelters was

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