Securities and Exchange Board of India (SEBI) on Thursday said Mr. Nirmal Kumar Soni, Mr. Partha Sarathi Dar, Mr. Simi Bhowmik, Mr. Mudit Goyal, Mr. Himanshu Gupta and Ashish on Zee Business news channel. – 15 guest experts, including Kelkar and Kiran Jadhav, were asked to pay ₹. 7.41 billion yen for “illegal profits'' obtained by taking a position in the market that was contrary to the advice they advised on the broadcast.
The other companies are Ramawatar Lalchand Chotia, SAAR Securities India, Ajaykumar Ramakant Sharma, Rupesh Kumar Matriya, Nitin Charani, Kanhya Trading Company, Manan Sharecom and SAAR Commodities.
According to the market regulator, they took advantage of their position to influence innocent investors and indulged in fraudulent and unfair practices to illegally enrich themselves.
3 categories
To better understand this issue and the role that questionable entities play, we have categorized them into three categories: profit generators, enablers, and guest experts.
The first category, profit makers, are entities that earned profits by executing trades that were allegedly made on the basis of prior knowledge of stock recommendations (Nirmal Kumar Soni, Partha Sarathi Dhar, SAAR Commodities Private Ltd, Manan Sharecom Private Ltd., and Kanhya Trading Company). Lectures by guest experts.
The second category includes entities that allegedly aided and abetted profit makers in making profits based on prior knowledge of stock recommendations by guest experts (Nitin Chalani, Rupesh Kumar Matriya, Ajay Kumar Ramakant).・Sharma SAAR Securities India Private Limited, Ramawatar Lalchand Chotia).
The third category consists of guest experts who appeared on various shows on Zee Business and provided/issued stock recommendations to the viewers of this channel. It is pertinent to mention here that these professionals have a large presence on social media. Kiran Jadhav, Ashish Kelkar, Himanshu Gupta, Mudit Goyal and Simi Bhaumik are termed as 'guest experts'.
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