Telegram channel case: SEBI bans 6 persons from securities market
Zee News
SEBI has barred six persons from accessing the securities market for indulging in fraudulent and unfair trade practices and ordered impounding wrongful gains of Rs 2.84 crore in the case of stock recommendations made using messaging app Telegram.
New Delhi: SEBI, on Wednesday, barred six persons from accessing the securities market for indulging in fraudulent and unfair trade practices and ordered impounding wrongful gains of Rs 2.84 crore in the case of stock recommendations made using messaging app Telegram.
The six persons are Himanshu Mahendrabhai Patel, Raj Mahendrabhai Patel, Jaydev Zala, Mahendrabhai Bechardas Patel, Kokilaben Mahendrabhai Patel and Avaniben Kirankumar Patel.
The Telegram channel 'bullrun2017' having a subscriber base of nearly 52,000, prima facie operated by Himanshu, Raj and Jaydev used to primarily give recommendations in small cap scrips, the price and volume of which could be easily impacted, Sebi said in its 37-page interim order.
