Sebi levies fine of Rs 1.75 crore on several entities in Vakrangee case
27th Apr 2021

Markets regulator -- Sebi has imposed a total fine of Rs 1.75 crore on several entities for indulging in fraudulent trading in the scrip of Vakrangee. The entities have violated Prohibition of Fraudulent and Unfair Trade Practices norms.

The probe found that the connected entities traded in the scrip of Vakrangee and created a misleading appearance of trading in the scrip without any intention of change in ownership of the security, by entering into synchronized trades at the relevant times.

Vakrangee is the unique technology driven company focused on building India's largest network of last mile retail outlets to deliver real time banking & Financial Services, ATM, insurance, e-governance, ecommerce and logistics services to the un-served rural, semi-urban and urban markets.