SEBI Bars Ex-IIFL Director Sanjiv Bhasin from Securities Market in ₹11.37 Cr Stock Manipulation Case

The Securities and Exchange Board of India (SEBI) has barred Sanjiv Bhasin, formerly an executive at IIFL Securities and 11 associates from the securities markets following allegations of stock price manipulation between January 2020 and June 2024. 

According to the ex‑parte interim order, Bhasin accumulated positions in select stocks and then issued bullish recommendations on TV channels like Zee Business, ET Now, and IIFL’s Telegram channel.

Once prices rose, he sold his holdings for a profit. SEBI has impounded ₹11.37 crore in suspected unlawful gains and imposed asset freezes and trading bans.

The group has 21 days to respond or seek a personal hearing; the matter will be heard on July 8.