SEBI v. Amesh Surajlal Jaiswal and others (Telegram tips, Akash Infra-Projects, 2026)

Judgment entered

✓ Checked against the primary document on October 8, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, in a single reading of the order; an independent second reading of 60 SEBI records agreed on every field for 56, the four misses being penalty amounts; a later sample of 50 of the SEBI records added on 9 October agreed on every field for 46. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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A SEBI adjudicating officer found in July 2026 that three of thirteen noticees circulated stock recommendations on Telegram channels to push up the price and volume of Akash Infra-Projects shares in 2021 and 2022. They are jointly penalised Rs 20 lakh; the order does not sanction the other ten.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

—

Alleged gain

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Penalty as published

2m INR

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars. This regulator states penalties in INR. The figure is recorded as published and is not converted, so it does not appear in the USD totals or medians used elsewhere on this site.

What is alleged to have happened

The adjudication order of 28 July 2026 was made by a SEBI adjudicating officer in Mumbai, who had been appointed in March 2025. Thirteen noticees were named in the show-cause notice of 29 April 2025, including Yoginkumar Haribhai Patel and others who traded the shares and the three who circulated tips: Amesh Surajlal Jaiswal, Jalaj Agrawal and Arvind Shukla. Twelve are listed here and one other, Narendra Singh Sankhla, is not.

SEBI investigated trading in Akash Infra-Projects Limited, a listed company, from 1 November 2021 to 1 July 2022, to look for market manipulation. The notice alleged that all thirteen breached section 12A of the SEBI Act and regulations 3 and 4 of the PFUTP Regulations.

The order finds the violations established only against the three tip circulators. It holds that they acted in a coordinated way to forward specific stock recommendations through Telegram channels to induce public investors to buy, and that this artificially affected both volume and price. It states that the earlier penalties imposed on those three under section 15HA are relevant and that no gain or investor loss is quantified. The order does not sanction the other ten noticees.

The three are penalised Rs 20 lakh under section 15HA, payable jointly and severally. The order imposes no restraint or disgorgement.

The record does not show an appeal or payment. It describes no criminal case. Amesh Jaiswal and Jalaj Agrawal also appear as noticees in other SEBI Telegram-tip orders in this library.

This library tags the matter as social media ramps and price manipulation. The tagging is ours, not the regulator's.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the order.

What technique is this, and how does it work?

This action is tagged with 2 techniques in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Social media ramps — see how it works, what statute it engages, and every other action tagged the same way.
• Price manipulation — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2026-07-28 SEBI adjudication order imposing penalty

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEBI order
• SEBI order (PDF)

The linked release is published by the issuing regulator under its own terms. Our summary and narrative above are our own writing.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added October 8, 2026. submit a correction.