Data from Unlisted Zone shows that shares of MSEI are currently hovering a little below Rs 5, plunging nearly 14 percent in the last 15 days. More importantly, the shares have dropped nearly 65 percent since December – falling from Rs 14 to the current levels.
MSEI board has approved the issuance of 119 crore equity shares through private placement at Rs 2 apiece
In its order, Sebi found that MSEI during preparation of the books of accounts on a going concern basis failed to provide necessary projections in terms of Indian AS1 (Accounting Standard 1) and failed to seek relaxation regarding Key Management Personnel (KMP).