SEBI: Seven companies playing in shares banned, capital increased from 40 crore to 4000 crore in eight months

New Delhi| SEBI has banned seven companies playing in shares from the market. This includes Pacheli Industrial Finance, Abhijeet Trading, Calix Securities, Hibiscus Holdings, Avel Financial Services, Adoptica Retail India and Sulphur Securities. Pacheli Industrial took out 1,000 crore loans from six entities classified as non-promoters, which it converted into equity through preferential allocation, SEBI said. But, debt and money were just converted into paper. Those who were pretending to lend found 99.28% of the company’s shares. That means the entire company went into his hands. Trading was taking place only in 0.72 per cent of the shares. In this way, the share price was increased arbitrarily.
This increased the company’s capital from 40 crore to 4,000 crore in eight months. Between December 2, 2024, and January 16, 2025, the company’s share price rose 372 percent. 8 former and current executives of Paytm’s parent company One97 Communication have settled the matter with SEBI by paying 3.32 crore. It stars Amit Khera, Ashit Lilani, Neeraj Arora, Pallavi Shroff and others. The rules related to salaries given to the company’s MD Vijay Sharma and his relatives were violated.