In a major crackdown, market regulator SEBI has barred 35 entities from accessing the securities market. In a press release issued from Mumbai on Wednesday, SEBI informed that it has prohibited Rajesh Mangilal Ranka, SMS Techsoft (India) Limited, its 3 promoters, 3 independent directors and 28 other entities from buying, selling or dealing in securities in any manner. This action was initiated after an investigation found that the entities were fraudulently luring investors through SMSes. The SEBI probe also found that the company and their promoters had violated norms related to preferential allotment of shares. SEBI has further asked these entities to maintain more than 6 crore rupees in an escrow account that the companies have earned as ill-gotten profit. Besides, the market regulator has restrained SMS Techsoft from raising additional capital through the market till further directions. Meanwhile, SEBI has asked stock exchanges to report all major non-compliances by system auditors of stock brokers on a quarterly basis. In a circular issued from Mumbai on Wednesday, SEBI has also asked exchanges to ensure that all major audit findings specifically in critical areas, are rectified or complied in a time-bound manner.