Mumbai, India — February 6, 2026
Market regulator Securities and Exchange Board of India (SEBI) has barred 15 individuals from the securities market for three years and imposed a total penalty of ₹3.6 crore for allegedly manipulating shares of Unison Metals through misleading stock recommendations circulated on Telegram channels.
The action was announced on Thursday through a detailed 98-page order, marking one of SEBI’s strongest crackdowns on social-media-driven market manipulation.
Illegal Gains to Be Recovered
In addition to the market ban and monetary penalties, SEBI has directed 10 individuals to disgorge more than ₹3.87 crore of illegal gains earned through the manipulation.
The regulator ordered that the amount be deposited within 45 days into SEBI’s Investor Protection and Education Fund (IPEF).
SEBI also imposed individual penalties ranging from ₹10 lakh to ₹1 crore on the 15 persons for violating multiple regulatory provisions.
SEBI Finds Interlinked Network
According to SEBI’s findings, several of the accused were interconnected and acting in coordination. The regulator named:
Yayati Hasmukhray Nada
Nirali Nada
Jaswantbhai Patel
Jignesh Pravinbhai Pethani
Nahush Ashvinbhai Shukla
Prajesh A. Shukla
Ritaben Ashvinkumar Shukla
Hardik J. Patel
SEBI concluded that these individuals formed part of a coordinated group involved in manipulating Unison Metals’ stock price.
Key Role of Telegram Stock Tips
SEBI’s order stated that Noticee No. 1 (Yayati) was making investment decisions on behalf of Noticees No. 2, 6, 7, and 9 (Nirali, Nahush, Prajesh, and Ritaben).
Further, Noticee No. 4 (Jignesh) was allegedly being advised on trading activities by the same group, indicating centralized control and coordinated trading behavior.
The regulator found that misleading stock tips were circulated through Telegram channels to influence retail investors, artificially inflate prices, and enable the accused to book illegal profits.
SEBI’s Warning to Investors
The regulator reiterated its warning to investors against relying on unverified stock tips shared on social media platforms, stating that such practices pose serious risks to market integrity and investor interests.
SEBI said it will continue to monitor digital platforms closely and take strict enforcement action against those misusing social media to manipulate markets.
