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Sebi bans 28 entities for fraudulent trade with fake SMSes

Updated : April 30, 2018 04:10 PM IST

The order comes after Sebi received complaints from intermediaries alleging that some unknown entities are sending guaranteed return SMSes, thereby misguiding the investors with unauthenticated SMSes.
The probe found that 28 'connected entities' (group) had employed a scheme for offloading a large number of shares of KCL in a manipulative manner.
Accordingly, Sebi has prohibited these 28 entities from the capital markets "till further directions".
Sebi bans 28 entities for fraudulent trade with fake SMSes
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