Overview

• The search at the Karjat campus began around 7 a.m. on August 20 and ran for more than 10 hours, according to multiple reports.
• Media accounts say SEBI secured court approval, conducted reconnaissance, and tracked movements before executing the operation.
• Officials seized trading records and digital devices for forensic analysis, with a detailed investigation now underway.
• SEBI’s Kamlesh Chandra Varshney said the action seeks deterrence against unregistered stock calls, live trading in classrooms, or promises of guaranteed returns without registration.
• Some outlets, citing unnamed sources, estimate possible illegal earnings of roughly Rs 400–500 crore, a figure not verified as SEBI also invests in advanced surveillance and examines rules for grey‑market pre-IPO trades.