Markets regulator Sebi has barred 221 entities, including individual investor Hanif Shekh, from the securities market for up to seven years and levied a fine of Rs 10 crore for orchestrating a large-scale pump-and-dump operation in five stocks between 2017 and 2020.
Mauria Udyog Ltd, 7NR Retail, Darjeeling Ropeway Company, GBL Industries, and Vishal Fabrics Ltd were the scrips manipulated by Shekh -- the alleged mastermind in the case -- and his conduit entities, the Securities and Exchange Board of India (Sebi) said in the order passed on Tuesday.
