The regulator said it had received information that messages containing stock tips and other investment advice with respect to selected listed companies are being widely circulated through websites and social media platforms such as Telegram, Facebook, WhatsApp and Instagram. Sebi said data, emails and other documents are being retrieved from the seized devices and detailed investigation is in progress. Pavel Durov, a billionaire who embraces an all-black wardrobe and is often compared to the character Neo from "the Matrix," funds Telegram through his personal wealth and debt financing. And despite being one of the world's most popular tech companies, Telegram reportedly has only about 30 employees who defer to Durov for most major decisions about the platform. 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. In 2018, Russia banned Telegram although it reversed the prohibition two years later.
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