Two days after Russia invaded Ukraine, an account on the Telegram messaging platform posing as President Volodymyr Zelenskiy urged his armed forces to surrender. Under the Sebi Act, the regulator has the power to carry out search and seizure of books, registers, documents including electronics and digital devices from any person associated with the securities market. Now safely in France with his spouse and three of his children, Kliuchnikov scrolls through Telegram to learn about the devastation happening in his home country. Messages are not fully encrypted by default. That means the company could, in theory, access the content of the messages, or be forced to hand over the data at the request of a government. In a statement, the regulator said the search and seizure operation was carried out against seven individuals and one corporate entity at multiple locations in Ahmedabad and Bhavnagar in Gujarat, Neemuch in Madhya Pradesh, Delhi, and Mumbai.
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