 "sebi")
The Securities and Exchange Board of India (Sebi) on Monday cracked down against entities allegedly involved in a front-running scandal using messaging app Telegram. The regulator conducted search and seizure operations against entities based in Ahmedabad and Mehsana in Gujarat, said sources.
Source said these entities operated Telegram channels which had subscribers running into thousands. The modus operandi were to build position in stocks ahead of recommending them on their channel. As most subscribers traded based on their tips, the shares used to see an upward movement. This helped them square off their positions for a profit.
During the searches,
