The Securities and Exchange Board of India (SEBI) has imposed a penalty of INR 5.68 crore (approximately $760,000) on three individuals who were operating unregistered investment advisory services through Telegram channels. According to SEBI, the three individuals provided stock tips to their subscribers, which were aimed at creating a false or misleading appearance of trading activity in the stocks mentioned in their messages. This led to a significant increase in the price of the targeted stocks. SEBI’s investigation revealed that the individuals had made a profit of over INR 1 crore through this illegal activity. The penalty has been imposed to deter such fraudulent activities in the securities market.
The Securities and Exchange Board of India (SEBI) has imposed a fine of INR 5.68 crore (approximately USD 765,000) on three administrators of Telegram channels for their involvement in stock market manipulation. The SEBI conducted an investigation into the sharing of false information on Telegram channels to influence the stock prices of various companies listed on Indian stock exchanges. The three individuals involved are said to have created and operated several Telegram channels that disseminated such information to their subscribers. The SEBI found that they used their channels to manipulate the prices of shares of certain companies for their personal gain. The SEBI has been cracking down on market manipulations in recent years, and this fine is a part of its ongoing efforts to maintain the integrity of India’s financial markets.