In the past, it was noticed that through bulk SMSes, investors were induced to invest in or purchase the stocks of certain listed companies. Sebi said data, emails and other documents are being retrieved from the seized devices and detailed investigation is in progress. Such instructions could actually endanger people — citizens receive air strike warnings via smartphone alerts. This provided opportunity to their linked entities to offload their shares at higher prices and make significant profits at the cost of unsuspecting retail investors.
from ar
