SEBI fines ₹2.8 crore and bans firms in RGRL manipulation case
The Securities Exchange Board of India (SEBI) levied a penalty totaling Rs 2.80 crores on eighteen entities for manipulating the share prices of Retro Green Revolution Limited, while barring them from securities markets for up to five years.
Key Points
-
1SEBI levied a penalty totaling ₹2.8 crore on 18 entities for manipulating the share prices of Retro Green Revolution Limited (RGRL).
-
2The regulator has barred all involved entities from securities markets for up to five years.
-
3In addition, SEBI directed that unlawful gains be disgorged by specific parties in this case.
Developments
Perspectives
SEBI levied a penalty totaling ₹2.8 crore on eighteen market participants and barred them from securities markets for up to five years in connection with share price manipulation at Retro Green Revolution Limited (RGRL).
— [Mar 18, 09:12] SEBI levies ₹2.8 crore fine...In addition to the fines, Sebi directed fifteen of these entities to disgorge their total unlawful gains.
— [Mar 18, 09:08] RGRL share manipulation case...The regulator imposed a penalty amounting ₹2.8 crore on eighteen market participants and barred them from securities markets for up five years in the Retro Green Revolution Limited (RGRL) stock price rigging matter.
— [Mar 18, 09:35] SEBI levies Rs...SESI has imposed a penalty of ₹2.7 crore on eighteen entities and barred them from securities markets for up to five years in the Retro Green Revolution Limited (RGRL) stock price rigging case.
— [Mar 18, 09:35] SEBI levies Rs...SEBI has penalized 18 entities with ₹2.8 crore in fines for manipulating Retro Green Revolution Limited's share prices through artificial trading volumes, price manipulation via Telegram tips, and misleading appearances of liquidity to lure investors; the regulator also ordered these parties (including Sanjay Choksi) to disgorge illegal gains totaling approximately ₹30 lakh plus interest within 45 days.
The Securities Exchange Board of India has penalized 18 entities with Rs 2.8 crore in fines for manipulating Retro Green Revolution Ltd's share prices through artificial trading volumes, price manipulation via Telegram tips, and misleading investors about an illiquid scrip; the regulator also ordered these parties to disgorge unlawful gains totaling over Rs 30 lakh along with interest within a specified timeframe while barring them from securities markets.
The Securities and Exchange Board of India (SEBI) has barred twenty-one entities from the stock market for up to five years in a Green Revolution Ltd share manipulation case involving 17 individuals or firms acting as principals, with two additional persons involved. SEBI ordered these parties to disgorge ₹294 crore illegally gained profits and imposed an aggregate penalty of approximately Rs 308 crores (Rs 256 cr for the entities plus a separate fine).
The Securities Exchange Board of India has penalized 18 entities with Rs 2.8 crore in fines, barred them for up to five years, ordered disgorgement of illegal gains totaling over ₹30 lakh plus interest, and directed the deposit into Sebi's Investor Protection Fund after finding they conspired through a Telegram channel to artificially inflate Retro Green Revolution Ltd (RGRL) share prices using connected trading.