New Delhi, Amid reports of Sanjeev Bhasin being investigated by Sebi for his role in alleged stock manipulation, IIFL Securities on Wednesday said he was associated with the brokerage house as an advisor on contract basis.
Bhasin is a well-known face on various business news channels and digital media platforms, where he discusses stock-related trading ideas.
“Bhasin was associated with IIFL Securities as an advisor on contract basis,” the brokerage house said in a statement.
His tenure was to end on June 30, 2024. However, due to health reasons, his contract has been prematurely terminated from June 17, 2024.
"Bhasin informed us about SEBI's inquiry, but its details were not disclosed to us. Therefore, we will not be able to comment. Please note that he was not a member of the board of directors of IIFL Securities Limited or any other group company. Or allies,” it added.
According to media reports, SEBI is investigating Bhasin for his role in alleged market manipulation.
Bhasin is a well-known face on various business news channels and digital media platforms, where he discusses stock-related trading ideas.
“Bhasin was associated with IIFL Securities as an advisor on contract basis,” the brokerage house said in a statement.
His tenure was to end on June 30, 2024. However, due to health reasons, his contract has been prematurely terminated from June 17, 2024.
"Bhasin informed us about SEBI's inquiry, but its details were not disclosed to us. Therefore, we will not be able to comment. Please note that he was not a member of the board of directors of IIFL Securities Limited or any other group company. Or allies,” it added.
According to media reports, SEBI is investigating Bhasin for his role in alleged market manipulation.
