In two separate orders, SEBI barred 17 entities for fraudulent trading in shares of Gemstone Investments and 10 entities for manipulation in shares of Spectacle Infotek. Nine entities are common in the two cases.
     
These entities have been prohibited from the capital markets for periods ranging from five to seven years. "...the notices (entities) in the present proceedings were related/connected to each other and connived amongst themselves for execution of synchronised and self-trades, creation of artificial volume and price manipulation which distorted the market equilibrium and were fraudulent in nature," SEBI said in similar-worded orders dated January 4.
    
Sebi has already restrained 20 entities from the market for fraudulent trading in shares of Well Pack Papers and Containers.
    
Some of the 27 entities are already banned from the securities market for violation of capital market norms in the case of Goldstone Technologies, LGS Global and Well Pack Papers and Containers.

 

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