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Events / Regulatory / SEBI Bans 221 Entities in Pump-and-Dump
Regulatory stock manipulation

SEBI Bans 221 Entities in Pump-and-Dump

Analysis based on 11 articles · First reported Jul 01, 2026 · Last updated Jul 01, 2026

Sentiment
-70
Attention
6
Articles
11
Market Impact
General
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Market Impact

The India — Securities and Exchange Board of India's (SEBI) action against the stock manipulation scheme is expected to restore investor confidence in India's securities market. The disgorgement of illegal gains and penalties will serve as a deterrent against similar fraudulent activities, positively impacting market integrity.

Financial Services Textiles Retail
Event Summary

The India — Securities and Exchange Board of India (SEBI) has banned 221 entities from the securities market and ordered the recovery of approximately Rs 144 crore in illegal gains, plus interest, following a multi-year investigation into a pump-and-dump scheme. Hanif Shekh was identified as the mastermind behind the operation, which ran from 2017 to 2020 and involved manipulating the share prices and trading volumes of five listed companies: Mauria Udyog, 7NR Retail, Darjeeling Ropeway Company, GBL Industries, and Vishal Fabrics. The scheme involved synchronized trades, mass SMS campaigns to retail investors, and layered fund transfers to conceal beneficiaries. Hanif Shekh received a seven-year market ban and a Rs 10 crore penalty, with other participants facing bans and fines.

Key Actions
100 India — Securities and Exchange Board of India barred from markets
100 Hanif Shekh orchestrated scheme
95 India — Securities and Exchange Board of India directed disgorgement
90 India — Securities and Exchange Board of India imposed penalty Hanif Shekh
90 Hanif Shekh manipulated share prices
Entities Involved
per
Hanif Shekh
Hanif Shekh was identified as the mastermind behind the pump-and-dump scheme, resulting in a seven-year ban from the securities market and a significant monetary penalty.
Importance 100.0 Sentiment -100.0
govactor
India — Securities and Exchange Board of India
The India — Securities and Exchange Board of India (SEBI) uncovered and acted against a large-scale stock manipulation scheme, reinforcing its role as a market regulator and protecting investor confidence.
Importance 100.0 Sentiment 80.0
priv
Mauria Udyog
Mauria Udyog's share prices and trading volumes were manipulated as part of the pump-and-dump scheme, negatively impacting its market integrity.
Importance 70.0 Sentiment -50.0
stock
7NR Retail
7NR Retail's share prices and trading volumes were manipulated as part of the pump-and-dump scheme, negatively impacting its market integrity.
Importance 70.0 Sentiment -50.0
priv
Darjeeling Ropeway Company
Darjeeling Ropeway Company's share prices and trading volumes were manipulated as part of the pump-and-dump scheme, negatively impacting its market integrity.
Importance 70.0 Sentiment -50.0
priv
GBL Industries
GBL Industries' share prices and trading volumes were manipulated as part of the pump-and-dump scheme, negatively impacting its market integrity.
Importance 70.0 Sentiment -50.0
stock
Vishal Fabrics
Vishal Fabrics' share prices and trading volumes were manipulated as part of the pump-and-dump scheme, negatively impacting its market integrity.
Importance 70.0 Sentiment -50.0
cnt
India
India's financial markets were affected by the large-scale stock manipulation, prompting regulatory action to maintain market integrity and investor confidence.
Importance 50.0 Sentiment 0.0
Relationships
India — Securities and Exchange Board of India related ↔ India
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