Econo Trade (India) Ltd — Important, 07-07-2026: Company Update

SEBI has issued a final order on widespread market manipulation orchestrated by Mr. Hanif Shekh across five company shares. Econo Trade (India) Limited (Noticee 5), identified as a key entity controlled by Mr. Hanif Shekh, acted as a conduit, illicitly receiving and channeling proceeds from share offloaders. Its financial transactions, often disguised as loans, were found to be integral to the fraudulent scheme, violating regulatory requirements. Consequently, Econo Trade is barred from the securities market for six years, faces a ₹2 crore penalty, and holds joint and several liability for disgorgement of unlawful gains. This decision highlights SEBI’s resolve to uphold market integrity.