SEBI finds Telegram used to manipulate Akash Infra-Projects shares

This order addresses SEBI's investigation into alleged market manipulation in the shares of Akash Infra-Projects Limited (AIPL) between November 2021 and July 2022. SEBI examined whether a group of individuals and entities used coordinated buy recommendations on Telegram to inflate share prices for the benefit of net sellers.

Yoginkumar Haribhai Patel, Ambusinh Punjaji Gol, Premalsinh Punjaji Gol, Dineshbhai Haribhai Patel, Nikhil Bharatbhai Patel, Amesh Surajlal Jaiswal, Jalaj Agrawal, Arvind Shukla, Samir Rohitbhai Shah, M/s Silkon Trades LLP, M/s Swetsam Stock Holding Private Limited, Pradeep Hiralal Shah, Narendra Singh Sankhla

• SEBI alleged that Noticees 1-5 and 9-13 colluded with aides (Noticees 6-8) to post buy recommendations on Telegram channels.
• The alleged scheme was designed to induce retail investors to buy AIPL shares, allowing net sellers (Noticees 10-13) to sell at artificially inflated prices.
• SEBI calculated the wrongful gains from this activity at Rs. 11,93,708/-.
• Violations were alleged under Section 12A of the SEBI Act and Regulations 3 and 4 of the PFUTP Regulations.
• Settlement applications filed by Noticees 1, 2, 3, 4, 5, 12, and 13 were rejected by SEBI.
• The order details the procedural history, including show cause notices, document inspections, and hearings conducted in 2025 and 2026.

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