5 entities banned 3 years, fined Rs 10 lakh each, ordered to return Rs 7.49 cr with 12% annual interest for market manipulation and posing a threat to investor interests.

SEBI has banned 5 entities (NNM Securities, Miker, Vibhuti, Festino, Nikunj) for 3 years & fined them Rs 10 lakh each for violating Bhatia Communication & Retail rules. They are ordered to return Rs 7.49 crore, with 12% annual interest, for manipulating prices & creating false trading appearances. SEBI states their actions pose a threat to market integrity & investor interests.

May 31, 2024
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