SEBI bans six people from securities market in Telegram channel case


New Delhi, Jan 12 (PTI) Markets regulator Sebi on Wednesday barred six persons from the securities market for indulging in fraud and unfair trade practices in the Telegram channel case.

The Securities and Exchange Board of India (SEBI) has also ordered forfeiture of undue advantage of Rs 2.84 crore for suggesting buy/sell shares through Telegram app.

The regulator has banned Himanshu Mahendrabhai Patel, Raj Mahendrabhai Patel, Jaydev Zala, Mahendrabhai Bechardas Patel, Kokilaben Mahendrabhai Patel and Avniben Kirankumar Patel from the securities market.

SEBI, in a 37-page interim order, said that around 52,000 people were associated with the Telegram channel ‘Bullrun2017’. Prima facie its operation Himanshu, Raj and Jaydev used to suggest about the shares of small companies.