SEBI bars Gautam Sanjay Khandelwal from trading over allegation of manipulation

MUMBAI: The Securities and Exchange Board of India has barred Gautam Sanjay Khandelwal from buying selling or dealing in securities directly or indirectly till further directions for being allegedly involved in manipulative trades.

The regulator had noticed that Mr Khandelwal was involved in sending unauthorized misleading stock tips through bulk SMS route along with fraudulent trades in the securities market.

Sebi has also directed Mr Khandelwal to cease and desist from disseminating news or messages in any form related to the securities market.

"Gautam Sanjay Khandelwal is directed to withdraw and remove all advertisements, representations, literature, brochures, materials, publications, documents, websites,etc., if any, in connection with the scheme employed, "Sebi said in a order posted on its website.