Sebi cracks down on ‘pump & dump’ schemes, slaps Rs 5.7 crore penalty on 3 entities

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Key Points

It has imposed a penalty of twice the amount made in unlawful gains Rs 5.68 crore 56.85 million on three entities, and Rs 5 lakh on the remaining three for violations on their part...

Markets regulator Sebi has barred three entities from accessing the securities market in relation to a fake Telegram channel that was used to give stock-specific recommendations to subscribers..

Consequently, the regulator has barred the first three entities from the securities market for a period of three years, and the remaining three people for a period of one year from the date of disgorgement of the entire amount..

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