Bhopal: STF raids 7 stockbrokers on SEBI complaint

Bhopal: STF raids 7 stockbrokers on SEBI complaint

Staff ReporterUpdated: Thursday, May 30, 2019, 08:52 AM IST
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BHOPAL: The Special Task Force (STF) of MP Police conducted raids on the premises of seven stock brokers in Bhopal, Indore, Gwalior and Bina (Sagar district) on Monday. The raids were conducted on four premises in Tukoganj and Vijay Nagar areas of Indore, besides three premises in Bhopal, Gwalior and Bina on the complaint of SEBI that some firms not registered with the stock market regulator were providing investment consultancy.

These brokers were functioning since 4-5 years sans registration and permission of (SEBI). It was found that the stock brokers were trading and offering consultancy services to investors using fake SEBI registration certificates. Documents seized in the raids are being scrutinised.

In Indore the STF raided Cashcow Research, Capital Care Research, Analysis Exchange Investment Services and Vivan Equities. In Bhopal Sharepati dot com, in Gwalior Live Tips Market Research and in Bina (Sagar district) Karat Research were raided. The STF has registered cases under section 418,420,465,467,468,471,474, 120-B of IPC and section of IT Act 66-C and 66-D.

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