Source: News Bharati English15 Oct 2016 11:00:47

New Delhi, October 15: 21 entities were banned by Securities and Exchange Board of India commonly known as SEBI. The ban was in relation with tax evasion and illegal gains through misuse of stock exchange mechanism. The detailed investigation is in line.
Dhyana Finstock and 75 other entities including these 21 entities were barred from the market for making the use of securities system to artificially bump up volume and price of the scrip to provide illegitimate gains to preferential allottees. SEBI says that the ultimate purpose is to claim long-term capital gains (LTCG) benefits.

The probe began following the complaints received from several investors in the matter according to the interim order. The new order followed after 21 entities did not submit their reply. They also could not avail of personal hearing after the interim order was passed. “Sebi Whole-time Member Rajeev Kumar Aggarwal said, “"I am of the view that the noticees (21) are deliberately keeping away from these proceedings and are not willing to co-operate. He did not find "any reason to revoke or modify the directions of the interim order dated June 1, 2016, in the matter of Dhyana Finstock Ltd against the notices.”