GK and monthly revision

Pump-and-dump operation: Sebi bans 221 entities for up to 7 years; Hanif Shekh fined Rs 10 cr

The Securities and Exchange Board of India (Sebi) has banned 221 entities, including ringleader Hanif Shekh, from the securities market for up to seven years due to a large-scale pump-and-dump operation. This operation, which took place between 2017 and 2020, involved manipulating five stocks to artificially inflate their prices, leading to illicit gains of approximately Rs 143.79 crore. This significant regulatory action underscores the importance of market integrity and investor protection.