LS Industries Limited submitted a revocation order dated 09.10.2026 issued by the Securities and Exchange Board of India (SEBI) to BSE Limited. The order revokes all directions issued vide SEBI's Interim Order dated 11.02.2025 and confirmed vide Confirmatory Order dated 30.05.2025 against the company and other noticees, with immediate effect.
The Interim Order was issued against LS Industries Limited and five other noticees (Jahangir Panikkaveettil Perumbarambathu, Profound Finance Pvt. Ltd., Suresh Goyal, Alka Sahni, and Shashi Kant Sahni HUF) who were prima facie observed to be part of a manipulative scheme designed to defraud investors, violating provisions of the SEBI Act and PFUTP Regulations.
A detailed investigation was subsequently conducted. The investigation has now concluded that the allegation of price-volume manipulation in the scrip of LSIL cannot be sustained. However, the investigation found some other violations of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 and non-compliance with summons. Appropriate action is being initiated for these other violations, and a reference is being sent to other law enforcement agencies for possible violations falling under their jurisdiction.
The revocation order was issued by Kamlesh Chandra Varshney, Whole Time Member of SEBI, in exercise of powers under Sections 11(1), 11(4) and 11B read with Section 19 of the SEBI Act.
This revocation order does not impact the separate order of suspension of trading issued by BSE vide its Interim Order dated 08.12.2025. BSE may take appropriate action against the company for delisting of shares as per extant provisions of securities laws. The company's shares were previously suspended from trading w.e.f. 30.12.2013 due to non-compliances of the Listing Agreement. BSE revoked this suspension w.e.f. 23.07.2024 after a site visit on 11.01.2024, but suspended trading again from 08.12.2025 following another surprise site visit on 11.06.2025 which found no operational textile business, plant, machinery, or sufficient workforce at the registered office. A subsequent site visit on 05.08.2026 found no change in circumstances.
Financial impact not quantified in the disclosure.