Financial Irregularities at Lloyd Electric and Engineering

Lloyd Electric and Engineering, a previously listed company, faced financial irregularities that caught the attention of SEBI. The company, known for its air conditioners and consumer products, entered into a deal with Habel's, resulting in allegations of fund mismanagement and underreporting of profits. SEBI's investigation uncovered discrepancies in the sale transaction, with L-E-E-L accused of manipulating figures to understate profits and inflate assets. The involvement of associated entities further complicated matters, revealing a tangled web of financial misconduct.