Mandhana Industries

Mandhana promoter diverted loans for personal benefit: ED charge sheet

Purushottam Mandhana, promoter of Mandhana Industries, used business loans for personal benefit and caused a loss of Rs 975 crore to a Bank of Baroda-led consortium of lenders, the Enforcement Directorate has said in its charge sheet. Observing that there was a prima facie case against Mandhana and others, a special court for Prevention of Money Laundering Act (PMLA) cases here earlier this month directed the accused to remain present in the court on November 21. The charge sheet filed by the ED named 18 persons as accused, including Purushottam Mandhana, his wife Prema and son Priyavrat. Special judge A C Daga took cognizance of the charge sheet on October 1, saying there was a clear, prima facie case under the PMLA. "All accused persons appear to have been involved in this process of money laundering and ultimately tried to make tainted money untainted," the court noted and issued summons to them. The charge sheet said that Palghar-based Mandhana Industries is into manufacturing

Mandhana Industries, Mandhana Retail Ventures locked in lower circuit

Mandhana Industries down 10% at Rs 41.15, while Mandhana Retail Ventures fall 5% at Rs 215 on the BSE

Mandhana Industries trades ex-demerger of retail business

The stock locked in lower circuit of 5% at Rs 44.65 on the BSE.

Mandhana Industries gains on Mandhana Retail deal with Being Human

The stock locked in upper circuit of 5% at Rs 101 on the BSE.

Mandhana Industries locked lower circuit for 18 straight trading sessions

On July 13, IFCI, ECL Finance and Kotak had collectively offloaded 24.87 lakh shares of Mandhna via bulk deals.

Mandhana Industries hits six-year low

The stock is currently trading at its lowest level since October 2010 and fallen 42% in past three trading sessions.

Mandhana Industries falls 20% for second straight day

The stock has hit its 52-week low and has fallen 36% in past two trading sessions.

Mandhana Industries surges after Bombay High Court approves scheme of demerger

The stock rallied 7% to Rs 312 on getting Bombay High Court approval for demerger of the retail undertaking into Mandhana Retail Ventures.