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Has SEBI overstepped its brief in issuing a directive against Ruchi Soya? 

How is it that brokers’ reports soliciting investments are allowed, while SMS messages are not? 

March 29, 2022 / 09:26 AM IST
Has SEBI overstepped its brief in issuing a directive against Ruchi Soya? 

In a first of its kind directive, the Securities and Exchange Board of India (SEBI) ordered a three-day window for all investors in Ruchi Soya Industries' Rs 4,300 crore follow-on public offer (FPO) to withdraw their applications. The directive was delivered on the last day of the issue and was based on the premise that unsolicited SMS messages were circulated, advertising the issue. The messages were sent to Patanjali Ayurved users, who were recommended to invest in the offer. Here is...

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