SEBI v. Hanif Kasambhai Shekh (bulk SMS buy tips, Premier Synthetics, 2024)
Judgment entered
Checked against the primary document on October 9, 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.
On 31 December 2024 a SEBI adjudicating officer fined Hanif Kasambhai Shekh Rs 11 lakh for buying a website domain used to send unsolicited bulk text messages recommending that recipients buy shares of Premier Synthetics Limited. The order finds this misled investors and breached the PFUTP Regulations.
The record
| Agency | SEBI (India) |
|---|---|
| Date filed | 2024-12-31 |
| Date resolved | 2024-12-31 |
| Court | SEBI adjudicating officer |
| Status | judgment |
| Asset class | equities |
| Instruments | Premier Synthetics Limited shares |
| Venue | BSE |
| Criminal parallel | No |
| Defendants | Hanif Kasambhai Shekh |
| Techniques |
What was ordered
- Civil penalty
- —
- Disgorgement
- —
- Prejudgment interest
- —
- Total relief
- —
- Alleged gain
- —
- Penalty as published
- 1.1m INR
What is alleged to have happened
The order was made on 31 December 2024 by a SEBI adjudicating officer against Hanif Kasambhai Shekh. It arises from an investigation into trading in the shares of Premier Synthetics Limited, listed on BSE, between November 2017 and October 2018, which began after complaints about text messages urging recipients to buy the stock.
SEBI alleged that Mr Shekh bought the domain dgfins.com, from which bulk unsolicited messages carrying buy recommendations for the stock were sent under sender headers containing the same name, and that this could mislead investors. The show cause notice of February 2024 charged breaches of section 12A of the SEBI Act and regulations 3 and 4 of the PFUTP Regulations, with penalty sought under section 15HA.
The officer found the charges established. The order treats the purchase of the domain, made with a mobile number and email address he used, as the basis for responsibility, and reasons that buy and sell recommendations from an unregistered person are unlawful and can lure unwary investors. It records that the material did not quantify any gain he made or any investor loss, but weighed the number of complaints and his earlier SEBI penalties and directions for PFUTP violations.
The penalty is Rs 11,00,000 under section 15HA, payable within 45 days. No restraint from the market was imposed.
The record does not show whether Mr Shekh appealed, whether the penalty was paid, who sent the messages day to day, or any trading profit connected to the messages.
This library has no technique that exactly fits unsolicited text-message stock tips, so the matter is tagged with none. 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.
Timeline
- 2024-12-31 SEBI order
Primary documents
Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.