New Delhi, Sept. 30 -- Man Industries share price crashed nearly 13 per cent to Rs.356 apiece in Tuesday's trading session after markets regulator Securities and Exchange Board of India (SEBI) banned the company and its three senior executives from accessing the securities market for two years.

The company informed that penalty of Rs.25,00,000 each have also been imposed on the other three noticees, namely Ramesh Mansukhani - Chairman & Director, Nikhil Mansukhani - Managing Director, and Ashok Gupta - Ex-Chief Financial Officer of the company.

SEBI determined that the company did not consolidate its subsidiary, Merino Shelters, in its financial statements from 2015 to 2021, misreported related-party transactions, and carried out round-...