https://www.taxtmi.com/caselaws?id=776625 The SEBI Board found that the Noticees engaged in a fraudulent and manipulative scheme violating the SEBI Act, PFUTP, and RA Regulations by artificially inflating securities prices through coordinated trades and misleading public recommendations. Noticee No. 1, acting as the mastermind, made unlawful gains of approximately Rs. 11.37 crore by exploiting media platforms to influence market prices for personal profit. The Board held all Noticees jointly and severally liable for these gains and passed an interim ex parte order impounding the amount. Noticees Nos. 1 to 3 and 5 to 12 were restrained from accessing the securities market and prohibited from trading, while Noticee No. 4 was barred from proprietary trading. Further restrictions included freezing bank and demat accounts, prohibiting asset disposal without SEBI permission, and mandating asset disclosure and preservation of relevant records to prevent dissipation of unlawful gains and protect market integrity. en-us Tue, 17 Jun 2025 00:00:00 +0530 Wed, 13 Aug 2025 12:17:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776625 The SEBI Board found that the Noticees engaged in a fraudulent and manipulative scheme violating the SEBI Act, PFUTP, and RA Regulations by artificially inflating securities prices through coordinated trades and misleading public recommendations. Noticee No. 1, acting as the mastermind, made unlawful gains of approximately Rs. 11.37 crore by exploiting media platforms to influence market prices for personal profit. The Board held all Noticees jointly and severally liable for these gains and passed an interim ex parte order impounding the amount. Noticees Nos. 1 to 3 and 5 to 12 were restrained from accessing the securities market and prohibited from trading, while Noticee No. 4 was barred from proprietary trading. Further restrictions included freezing bank and demat accounts, prohibiting asset disposal without SEBI permission, and mandating asset disclosure and preservation of relevant records to prevent dissipation of unlawful gains and protect market integrity. Case-Laws SEBI Tue, 17 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776625