Econo Broking Pvt. Ltd. (Erstwhile Bansal Finstock Pvt. Ltd.)

2 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Impugned direction: deposit Rs 136.40 crores jointly and severally by 226 noticees with interest @12% p.a.
Deposit Rs 136.40 crores jointly and severally by 226 noticees with 12% p.a. interest as impounding

SAT-appeal

Alleged coordinated price-volume manipulation in 5 scrips via pre-SMS influencers and bulk SMS buy recommendations orchestrated by Hanif Shekh, with promoter-linked off-loaders dumping shares and routing profits via conduits.
Impugned direction: deposit Rs 136.40 crores jointly and severally by 226 noticees with interest @12% p.a. · Impugned restraint from accessing securities market during pendency; bank and demat accounts frozen
Appeal: Appeal Nos. 568 of 2023 and 577 of 2023 with Misc. Application No. 867 of 2023, reserved 04.07.2023/14.07.2023, decided 18.08.2023
Pump-and-dump in 5 scrips via pre-SMS price-volume manipulation, bulk SMS buy recommendations and off-loading by promoter-connected entities for Rs 136.40 cr unlawful gains.
Deposit Rs 136.40 crores jointly and severally by 226 noticees with 12% p.a. interest as impounding · Restraint from accessing securities market during pendency
Appeal: Appeal No. 568 of 2023 and Appeal No. 577 of 2023 with Misc. Application 867/2023 against WTM order 19.06.2023; reserved 04.07.2023/14.07.2023; decided 18.08.2023

Analyse these matters in Ontology · Plans

Source: SecMarx — Econo Broking Pvt. Ltd. (Erstwhile Bansal Finstock Pvt. Ltd.). AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (charges, outcomes, appeal chain) is cited to us.