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These entities are reportedly operating nine Telegram channels with more than five million subscribers to whom they were making recommendations on selected listed scrips. Such recommendations induced the investors to deal in the said scrips, thereby creating artificial volume and price rise. "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. The original Telegram channel has expanded into a web of accounts for different locations, including specific pages made for individual Russian cities. There's also an English-language website, which states it is owned by the people who run the Telegram channels. 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. The regulator took order for the search and seizure operation from Judge Purushottam B Jadhav, Sebi Special Judge / Additional Sessions Judge.
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