Sebi fines 15 entities for fraudulent trading activities using bulk SMSes

NEW DELHI: Sebi on Tuesday slapped a total fine of Rs 75 lakh on 15 entities for indulging in fraudulent trading activities in the scrip of Timbor Home Ltd.

The regulator imposed a fine of Rs 5 lakh each on 13 individuals and two entities (noticees).

An investigation was conducted by Sebi in the scrip of the company during April 2014 to May 2015 period. It was found that from July 25, 2014, bulk SMSes were circulated with recommendations to buy the shares of the company.