SEBI finds Telegram used to manipulate Akash Infra-Projects shares

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.

Who it concerns: 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

What SEBI found or ordered

• 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.

Also in the document

• The alleged manipulation involved the use of digital media (Telegram channels) to disseminate buy recommendations.
• The investigation period covered approximately eight months (Nov 2021 to July 2022).
• The order distinguishes between 'Net Sellers' (Noticees 10-13) and those alleged to have facilitated the price inflation (Noticees 1-5, 9-13).