The Securities and Exchange Board of India (Sebi) has summoned at least 12 companies over prescient messages, mostly related to their quarterly results, being circulated on social media platforms such as WhatsApp.
According to sources, each company’s secretary and chief financial officer have been asked to be present in person before the regulator to make a submission in writing about who all had access to the quarterly results and the method used for disseminating price-sensitive information within the company.
“We are trying to ascertain who had information beforehand about the company earnings and how they could have got leaked in