If you’ve ever followed a “jackpot stock call” on Telegram and ended up stuck in a dud trade, this one’s for you.
Because what SEBI just uncovered in the Darshan Orna Limited (DOL) case is not just another market scam. It’s a blueprint of how Telegram tips + insider trading + fake volumes = retail investor trap.
And the scary part? It worked.
Let’s break down the whole case.
What’s the Scam?
A group of 11 people (mostly family and friends) accumulated shares of an illiquid company called Darshan Orna Ltd. They:
- Traded among themselves (synchronized trades)
- Created artificial price and volume
- Used Telegram messages to lure retail investors
- Cashed out when the price spiked
In simple terms, pump the stock price and then dump it, trapping retail traders in it. Only this time, SEBI caught them red-handed.
The Role of Telegram
Let’s talk about the biggest red flag here — Telegram tips.
Just before the stock peaked, channels started posting messages like:
“DELIVERY BUY CALL JACKPOT… DARSHAN ORNA… BUY HUGE QTY FOR BIG PROFIT… 1ST TARGET 200”
This wasn’t a coincidence. These messages were deliberately planted.
SEBI traced the flow:
- Group members coordinated trades to inflate price
- Fake tips were posted on Telegram to attract the public
- The public started buying at high prices
- The group quietly exited
In 6 trading days, volumes spiked, price surged from ₹126 to ₹146. Retail jumped in.
By April, the stock collapsed to ₹78. Eventually it hit ₹4.35
So, Who Made the Money?
Here’s what the key players earned from this circus:
| Name | Profit (₹) |
|---|---|
| Dilip Doshi | ₹91.72 Lakh |
| Aakash Doshi | ₹64.66 Lakh |
| Richi Doshi | ₹31.79 Lakh |
| Kruti Kevin Kapadia | ₹38.43 Lakh |
| Dhanpal Gandhi | ₹12.07 Lakh |
| Darshan Gandhi | ₹6.93 Lakh |
| Jalpa Gandhi | ₹5.44 Lakh |
| Total | ₹2.51 crores |
And retail investors?
They were left holding a stock that had no real value and no exit.
SEBI’s Action: Heavy Penalties
Here’s the full list of penalties imposed under Section 15HA of the SEBI Act:
| Noticee Name | Penalty (₹) |
|---|---|
| Aakash Doshi | ₹90,00,000 |
| Kevin Kapadia | ₹10,00,000 |
| Dilip Doshi | ₹1,20,00,000 |
| Richi Doshi | ₹45,00,000 |
| Kruti Kapadia | ₹50,00,000 |
| Dhanpal Gandhi | ₹20,00,000 |
| Jalpa Gandhi | ₹10,00,000 |
| Darshan Gandhi | ₹12,00,000 |
| Amesh Jaiswal | ₹10,00,000 |
| Jalaj Agarwal | ₹10,00,000 |
| Satyen Dalal (Merchant Banker) | ₹10,00,000 |
Total Penalty: ₹3.87 crore+
SEBI made it clear: If you manipulate markets using fake trades and social media? You’re getting hit. Hard.
The Details You Shouldn’t Miss
- Circular Trading: The group used accounts of father, son, wife, and in-laws—buying from one another to fake demand.
- Telegram Front: Messages were timed to create FOMO. Nothing about the company had changed fundamentally.
- Funding Trail: Transactions were masked using bank accounts of unrelated entities and even cash.
- Merchant Banker Involved: One of the accused (Noticee 9) was a director of a SEBI-registered Merchant Banker who had also handled DOL’s SME IPO.
The Impact on Retail Traders
- Public shareholding increased by 335% in a single quarter.
- Price jumped from ₹77 to ₹146 in 60 days.
- Then collapsed to ₹40… and kept falling.
- Most retail traders bought at the top and are still stuck.
If you’ve ever been stuck in a stock that pumped and dumped, you’ve probably seen this movie before. Only this time, you have the full script.
The Lesson Here Isn’t Just About One Stock
This is about a pattern that’s being repeated every day:
- Unknown stock suddenly becomes “hot”
- Telegram tip goes viral
- Volumes spike
- Insiders dump
- Price crashes
- Retail cries
SEBI can’t chase every Telegram channel. But you can choose who you listen to.
Before You Follow That Telegram Tip…
Ask yourself:
- Does this stock have any real business news?
- Who’s behind this “tip”?
- Why would anyone give a jackpot trade for free?
If you can’t answer those, don’t press buy.
Conclusion
Markets aren’t a casino. But some treat it like one—especially those who run these so-called “Telegram jackpot channels.”
This time, they got caught.
But next time, the only thing protecting your capital is your awareness.
Stay sharp. Trade smart.
