SEBI issues interim order restraining family group from securities market

This is an interim order by SEBI regarding a family group of seven individuals who allegedly manipulated stock prices on the SME platform by posting recommendations on social media (X, WhatsApp, Telegram) to inflate prices before selling their own holdings. SEBI found prima facie violations of fraud and unfair trade practices regulations and issued directions to restrain them from the securities market.

Who it concerns: Hemant Gupta, Rohan Gupta, Aniket Gupta, Sharon Gupta, Leana Gupta, Rajani Gupta, and Purvangi Gupta

What SEBI found or ordered

• SEBI found the Noticees prima facie violated the SEBI Act, PFUTP Regulations, and (for Noticees 1-3) SEBI Research Analyst Regulations.
• The scheme involved artificially inflating prices of 82 scrips during the examination period (Dec 1, 2023 – Jan 20, 2026).
• SEBI calculated prima facie wrongful gains of INR 20.25 crores.
• Directions were issued to bar the Noticees from the securities market (implied by 'Directions have been issued accordingly' in context of interim restraint, though specific bar text is truncated, the summary states 'Directions have been issued accordingly' following findings of violation).
• Search and seizure operations were conducted from January 21 to 24, 2026, seizing electronic devices and recording statements.

Also in the document

• The order is interim and ex-parte, passed during the pendency of the investigation.
• The Noticees are related family members (parents, children, and ex-spouse) who operated the scheme collectively.
• The social media accounts used included @WealthSolitaire (~13,600 followers) and @desiwallstreet (~40,500 followers) on X, along with multiple WhatsApp and Telegram groups.
• The stocks targeted were primarily listed on the SME Platform.