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As per a new order, SEBI restrains 135 entities from access to the securities market. SEBI has barred these 135 entities from dealing, buying, or selling securities for manipulation of stocks of five small-cap companies. Why so?
The five companies referenced in the order are Mauria Udyog Ltd., 7NR Retail Ltd., Darjeeling Ropeway Company Ltd., GBL Industries Ltd. and Vishal Fabrics Ltd.
The modus operandi followed apparently under a pre-planned scheme by the entities mainly centered around circulation of bulk SMSs in five scrips with a 'Buy' recommendation to public investors.
SEBI has time and again cautioned investors to be aware of fraudulent activities which are being carried out through SMSs, various websites and social media. It has also advised investors to deal only with registered intermediaries.