India, May 26 -- Capital markets regulator SEBI has barred seven individuals from securities markets for allegedly running a coordinated pump-and-dump scheme across social media platforms and making unlawful gains of over Rs 20.25 crore.

Apart from the debarment, the regulator has also directed finfluencer Hemant Gupta and his sons, Rohan Gupta and Aniket Gupta, to immediately cease and desist from offering unregistered research analyst services or from portraying themselves as research analysts.

In a 234-page interim order passed on May 22, Sebi alleged that Hemant, Rohan and Aniket acted as "Operators" who first accumulated positions in thinly traded SME stocks and later circulated bullish stock recommendations on social media platfor...