The Securities and Exchange Board of India (SEBI) has imposed a trading ban on LS Industries Limited (LSIL) and its directors, including Jahangir Panikkaveettil Perumbaram, following allegations of financial irregularities. This action comes just ten months after the company was listed on the market. SEBI's interim order highlights 'absurdities' in the company's operations, particularly noting that a $1 share purchase by a non-resident Indian investor inexplicably surged to a valuation of $329 million. The ban reflects concerns over the company's lack of revenue and a staggering stock price increase of 1,089%. SEBI has mandated that brokers establish separate business units to engage in the NDS-OM trading platform, as part of its ongoing regulatory efforts.