SEBI Cracks Down on Finance Company for Alleged Pump-and-Dump Scheme, Auditor Under Scrutiny
2025-01-16
MSN
The Securities and Exchange Board of India (SEBI) has taken strict action against Pacheli Industrial Finance and six other entities, barring them from accessing the securities market pending further investigation. The regulator has raised concerns over the role of the company's statutory auditor, GSA and Associates LLP, in an alleged pump-and-dump scheme. The investigation aims to uncover the truth behind the suspicious activities, which may have led to artificially inflated stock prices, creating a false market. The move is part of SEBI's efforts to protect investors and maintain market integrity, using regulatory measures to prevent stock market scams and promote transparency in financial reporting, ensuring fair trade practices.
