February 9, 2023
New Delhi, India
SEBI Takes Action Against Zee Business Guest Experts
The Securities and Exchange Board of India (SEBI) has imposed penalties on 15 guest experts of Zee Business channel for engaging in unlawful trading activities. This regulatory action comes as a response to the discovery of a scheme of manipulation aimed at misleading investors and profiting from their investments.
Violation of Securities Laws
SEBI‘s investigation uncovered that these guest experts collaborated to manipulate the market, resulting in gains of ₹7.41 crore. By misleading investors and providing false recommendations, they breached securities laws and regulations, causing harm to innocent individuals who followed their advice.
Protecting Investor Interests
The actions taken by SEBI underscore its commitment to protecting the interests of investors and maintaining the integrity of the capital markets. The fines imposed and restraining orders issued send a strong message against market manipulation and fraudulent trading practices.
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Ongoing Investigation
This regulatory action is part of an ongoing investigation into the correlation between trading activities of certain entities and stock recommendations made by guest experts on Zee Business channel. SEBI’s thorough examination involves search and seizure operations, gathering evidence to ensure accountability and justice.
Conclusion
SEBI‘s decisive action against the unlawful trading practices of Zee Business guest experts reflects its dedication to upholding securities laws and safeguarding investor interests. As the investigation progresses, further measures may be taken to ensure transparency and integrity in the financial markets.
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