Following this, Sebi, in an order passed in January 2022, established that the administrators of a Telegram channel having a large subscriber base enticed the subscribers to act upon recommendations that were circulated by those administrators on the channel, leading to significant price and volume impact in various scrips. Stocks closed in the red Friday as investors weighed upbeat remarks from Russian President Vladimir Putin about diplomatic discussions with Ukraine against a weaker-than-expected print on U.S. consumer sentiment. Telegram has become more interventionist over time, and has steadily increased its efforts to shut down these accounts. But this has also meant that the company has also engaged with lawmakers more generally, although it maintains that it doesn’t do so willingly. For instance, in September 2021, Telegram reportedly blocked a chat bot in support of (Putin critic) Alexei Navalny during Russia’s most recent parliamentary elections. Pavel Durov was quoted at the time saying that the company was obliged to follow a “legitimate” law of the land. He added that as Apple and Google both follow the law, to violate it would give both platforms a reason to boot the messenger from its stores. Sebi said data, emails and other documents are being retrieved from the seized devices and detailed investigation is in progress. Stocks dropped on Friday afternoon, as gains made earlier in the day on hopes for diplomatic progress between Russia and Ukraine turned to losses. Technology stocks were hit particularly hard by higher bond yields.
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