SEBI Restrains 135 Entities from Market Access Over Alleged Stock Manipulation
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- By Chetan Kulasri
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- Last Updated on 23 June, 2023
Latest from Taxmann
Press Release PR No.9/2023, Dated 21.06.2023
SEBI has issued interim order-cum-showcause notices, restraining 135 entities from accessing the securities market on alleged manipulation of shares of five small-caps. SEBI stated that he modus operandi followed apparently under a pre-planned scheme by the entities mainly centered around the circulation of Bulk SMSs in five scrips with a buy recommendation to public investors. The scheme involved 3 major sets of entities namely, PV (Price Volume) Influencers, SMS Sender and Off Loaders.
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