SEBI bars 76 entities from Stock Market

Information about SEBI bars 76 entities from Stock Market

Published on June 2, 2016

Author: moneypalm

Source: slideshare.net

Content

1. 02.06.2016 Market Regulator, The Securities and Exchange Board of India (SEBI) has barred 76 entities from the stock market for evading taxes by violating the stock exchange platform. Many entities manipulated the shares of Dhyana Finstock, a company listed in Bombay Stock Exchange (BSE) by using fraudulent mobile text messages and websites. Many Investors were lured into buying the shares of the Dhyana Finstock through such SMSs, thus providing an exit to other shareholders. Nearly 100 such investors had lodged complaints with the stock exchanges and SEBI. In its order, SEBI stated -“It is observed that 39 preferential allottees made a collective profit of a Rs 107.43 crore on a collective investment of Rs 5.22 crore, a whopping return of approximately 2,060 per cent on their investment in a period of 20 months.” For more informative, crisp and latest trending news on Stock Markets and Investment, keep visiting www.moneypalm.in Like our Facebook Page Moneypalm and follow our Twitter handle Moneypalmonline for latest updates.

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