Tuesday, March 9, 2021
News

WhatsApp investment tips' land two in trouble with SEBI

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | Thursday, 2021 4:15:06 AM IST
Securities market regulator SEBI on Wednesday imposed a penalty of Rs 25 lakh on Mansoor Rafiq Khanda and Firoz Rafiq Khanda for offering trading tips through WhatsApp messages and internet websites including www.fullonoption.com without being registered with the regulator as investment advisers.

Upon completion of the investigation, the SEBI had issued directions against them in 2016 to impound the unlawful gains of a sum of Rs 5.04 crore.

In June 2018, the SEBI passed an order against the individuals directing them to disgorge the unlawful gains made by them along with interest as determined by the regulator in 2016.

Both the individuals had filed an appeal before the Securities Appellate Tribunal (SAT), which was dismissed in January last year.

"Considering all the facts and circumstances of the case, I hereby impose the monetary penalty of Rs 25,00,000 on the noticees, for not complying with the directions," said the SEBI order.

--IANS rrb/sn/vd

( 165 Words)

2021-01-20-22:28:01 (IANS)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Air travel continues to accelerate in Fe...
Bombay HC orders payout to NSEL small cl...
Govt's privatisation plan will see it re...
Singapore Airlines to pilot IATA's 'Trav...
SEBI rationalises compliance norms for U...
India's banks' recovery faces asset-qual...
More...
 
INDIA WORLD ASIA
Odisha forms task force to contain fores...
Army Major sent to police custody till M...
Rape in Raj police station: SHO suspende...
AIMIM seals alliance with AMMK in TN, to...
Karnataka estimates Rs 15,134 cr revenue...
LS Speaker insists on raising women's pa...
More...    
 
 Top Stories
Day 52: Senior citizens make up 61%... 
Will ensure Siddaramaiah sits in Op... 
It's all women's show at Bengaluru ... 
AAP govt's schemes are women-centri... 
Scindia now a BJP backbencher, he w... 
Delhi Cong demands free vaccine dos... 
SC seeks states' reply on protectio... 
Karnataka estimates Rs 15,134 cr re...