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Updated February 29th, 2024 at 16:14 IST

SEBI restricts 12 entities from securities market over manipulative trades in V Marc India

SEBI has seized wrongful gains amounting to Rs 6.38 crore accrued by certain entities as part of the manipulative scheme, as per an interim order.

Reported by: Business Desk
SEBI fines Arun Panchariya in GDR Manipulation Case
SEBI fines Arun Panchariya in GDR Manipulation Case | Image:SEBI
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SEBI bans 12 entities: Markets regulator Securities and Exchange Board of India (SEBI) has taken action against 12 entities, including the promoter of V Marc India Ltd, barring them from the securities market for involvement in a deceptive scheme aimed at manipulating volumes and prices of the company's shares.

Securities and Exchange Board of India has seized wrongful gains amounting to Rs 6.38 crore accrued by certain entities as part of the manipulative scheme, as per an interim order.

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The case primarily revolves around fraudulent and manipulative trading activities related to the shares of V Marc India Ltd, which is listed on the National Stock Exchange's (NSE) SME segment. 

The activities were allegedly orchestrated by the company's promoter, management, and affiliated parties.

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(With Reuters Inputs)

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Published February 29th, 2024 at 16:14 IST

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