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Sebi said data, emails and other documents are being retrieved from the seized devices and detailed investigation is in progress. In the past, it was noticed that through bulk SMSes, investors were induced to invest in or purchase the stocks of certain listed companies. For example, WhatsApp restricted the number of times a user could forward something, and developed automated systems that detect and flag objectionable content. The regulator took order for the search and seizure operation from Judge Purushottam B Jadhav, Sebi Special Judge / Additional Sessions Judge. 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.
from CA