Try GOLD - Free
Pump-and-dump case: Sebi raids many shell cos
The New Indian Express Jeypore
|June 28, 2025
MARKETS watchdog Sebi has confirmed reports that appeared in a section of the media that it had carried out raids across multiple locations and shell companies for what it considers to be cases of pump-and-dump scams.
"Sebi has conducted search and seizure operations at multiple locations in June in connection with pump and dump in certain scrips and has seized incriminating evidence," Sebi said in a statement on Friday.
"Further investigation in the matter is under progress," it added, without offering more details such as the number of companies raided or the value of the alleged scam etc.
Some reports suggested Sebi raided about two dozens shell companies involved in ₹300 crore pump-and-dump scheme across Ahmedabad, Mumbai and Gurugram. These raids are one of the biggest in Sebi's history in terms of monetary value. The raids mainly involved 15-20 shell companies, which were allegedly created by promoters of some listed companies to pump-and-dump their own shares. At least two listed agro-tech companies, along with their promoters, are said to be at the helm of the alleged network, sources had said.
This story is from the June 28, 2025 edition of The New Indian Express Jeypore.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The New Indian Express Jeypore
The New Indian Express Jeypore
India Inc bats for economic resilience, energy security
At a time when the West Asia crisis is disrupting global energy markets and supply chains, India Inc’s leaders like Gautam Adani, Sunil Bharti Mittal on Monday called for greater economic resilience, reduced import dependence and accelerated investments in domestic capabilities, to align India Inc’s goal with the Centre’s push for self-reliance.
1 mins
May 12, 2026
The New Indian Express Jeypore
Vinesh stands firm, WFI denies participation
Two-time Worlds medallist says it’s a pre-planned conspiracy to prevent her from making a comeback
3 mins
May 12, 2026
The New Indian Express Jeypore
NCERT goes hi-tech, launches digital companion for parents and teachers
THE NCERT has made extensive use of AI to launch a digital companion for parents and teachers.
1 mins
May 12, 2026
The New Indian Express Jeypore
Sonia, Priyanka step in to break the impasse over Kerala CM candidate
THE suspense over who will be the next Kerala chief minister deepened on Monday, a week after the election results gave a thumping majority to the Congress-led UDF, as the party’s central leadership summoned senior leaders from the state for another round of talks.
1 min
May 12, 2026
The New Indian Express Jeypore
Chennaiyin teenager Prakadeswaran puts his settlement on the map
S PRAKADESWARAN’s year so far has been filled with pleasant surprises.
1 mins
May 12, 2026
The New Indian Express Jeypore
US FTA likely after USTR investigations
AUS trade delegation is likely to visit India soon for the next round of negotiations on the proposed bilateral trade agreement (BTA), with discussions expected to cover all pending issues, including Washington’s Section 301 investigations against India, a source in the commerce ministry said.
1 min
May 12, 2026
The New Indian Express Jeypore
VB-G RAM G Act to come into force from July 1
NEARLY six months after Parliament passed the Viksit Bharat-Guarantee for Rozgar and Ajeevika Mission (Gramin) (VB-G RAMG) Act, the Centre on Monday announced that the new Act will come into force across the country from July 1, replacing the two-decade-old MGNREGA 2005.
1 mins
May 12, 2026
The New Indian Express Jeypore
SHARE TO SHINE: The 13th Anniversary Theme of Art of Giving
THE meaning of sharing has always been greater than the act itself.
3 mins
May 12, 2026
The New Indian Express Jeypore
MFs’ assets rise 11% to ₹81.9 lakh crore in April even as equity inflows fall 5%
THE assets under management of mutual funds rose 11.2% to %81.92 lakh crore in April compared to %73.73 lakh crore in March, driven by strong equity inflows, sustained SIP contributions and mark-to-market gains, showed Association of Mutual Funds of India (AMFI).
1 min
May 12, 2026
The New Indian Express Jeypore
Sanskrit must, Punjabi optional in Army schools trigger Punjab outrage
THE Army Public Schools in Punjab have introduced Sanskrit as a compulsory subject and made Punjabi optional, triggering strong reactions from parents as well as education and language advocacy groups.
1 min
May 12, 2026
Listen
Translate
Change font size