According to reports, markets regulator Sebi cautioned investors against using unregistered online platforms offering unlisted debt securities. These platforms operate without regulatory oversight, lack investor protection mechanisms, and do not provide grievance redress systems.

According to the regulator, offering unlisted securities to more than 200 investors is a public issue that is against the Companies Act of 2013 and Sebi regulations.

In light of the dangers involved, the regulator recently issued an interim injunction against a few of these firms.

Investors were cautioned by Sebi to invest in listed debt securities only through registered online bond platforms run by stockbrokers who have been approved by the BSE and NSE.

Investors are being advised by Sebi to refrain from using unregistered intermediaries, web applications, platforms, or apps for trading or investment operations.

On the Sebi website, you may see the list of approved online bond platform providers (OBPPs).

The regulator also cautioned that exchange grievance mechanisms, such as SCORES and smartodr.in, and Sebi will not handle disputes resulting from transactions on unregistered platforms.

Through Sebi's Market Intelligence portal, the public is urged to report unregistered platforms.

The company was asked to bring back the Rights issue proceeds amounting to Rs. 49.82 crore misutilized/misappropriated/diverted through group entities and the amount of Rs. 47.10 crore which was misutilized/misappropriated/diverted to promoters/directors of MFL and their relatives through fictitious sales/purchases with group entities in an interim order issued on December 5 by the Securities and Exchange Board of India (SEBI).