In this regard, Sebi collaborated with the Telecom Regulatory Authority of India (TRAI) to reduce the vulnerability of the securities market to manipulation through misuse of mass communication medium like bulk SMS. "We as Ukrainians believe that the truth is on our side, whether it's truth that you're proclaiming about the war and everything else, why would you want to hide it?," he said. "Markets were cheering this economic recovery and return to strong economic growth, but the cheers will turn to tears if the inflation outbreak pushes businesses and consumers to the brink of recession," he added. Under the Sebi Act, the regulator has the power to carry out search and seizure of books, registers, documents including electronics and digital devices from any person associated with the securities market. "Like the bombing of the maternity ward in Mariupol," he said, "Even before it hits the news, you see the videos on the Telegram channels."
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