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"Markets were cheering this economic recovery and return to strong economic growth, but the cheers will turn to tears if the inflation outbreak pushes businesses and consumers to the brink of recession," he added. As a result, the pandemic saw many newcomers to Telegram, including prominent anti-vaccine activists who used the app's hands-off approach to share false information on shots, a study from the Institute for Strategic Dialogue shows. At this point, however, Durov had already been working on Telegram with his brother, and further planned a mobile-first social network with an explicit focus on anti-censorship. Later in April, he told TechCrunch that he had left Russia and had “no plans to go back,” saying that the nation was currently “incompatible with internet business at the moment.” He added later that he was looking for a country that matched his libertarian ideals to base his next startup. The Securities and Exchange Board of India (Sebi) had carried out a similar exercise in 2017 in a matter related to circulation of messages through WhatsApp. 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.
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