Sebi bans 'pied piper' company with zero revenue, Rs 5,500 crore valuation

SEBI has banned LS Industries (LSIL) from accessing the capital market due to stock price manipulation and zero revenue, despite a Rs 5,500 crore market valuation. The regulator froze the bank accounts of investor JPP, who made unlawful gains. SEBI is investigating suspicious trading, insider activity, and potential FEMA violations.