Divya Delhi :SEBI has punished Manpasand Beverages Ltd (MBL) and its top officials and directors with a three-year ban from the securities markets and a ₹74 lakh penalty for manipulating and misreporting the company's financial statements.Since 2019, the Vadodara-based company has been in the spotlight for a GST fraud and not paying its employees for months after submitting bogus turnover numbers.Besides MBL, SEBI restrains promoter, chairman, MD Dhirendra Singh, promoter and executive director Abhishek Singh, and CFO Paresh Thakkar. Additionally, SEBI issued a 55-page order fining these four firms ₹17 lakh apiece, with 45 days to pay.For five years, Dhirendra Singh, Abhishek Singh, and Paresh Thakkar cannot serve as directors or senior managers of any listed public company or regulator-registered intermediary. They have also been barred from securities trading for three years.Previous independent directors Milind Babar and Chirag Doshi were fined ₹2 lakh apiece,.Dhirendra Singh, Abhishek Singh and Paresh Thakkar have also been prohibited from holding position of director or key managerial personnel in any listed public company or any intermediary registered with the regulator in any capacity for five years. while current independent directors Nishit Mobar and Bharti Naik were fined ₹1 lakh each. Non-executive director Naik was involved. In its order, SEBI determined MBL had internal control issues and presented false 2016-17 and 2017-18 financial statements.