SEBI fines two firms ₹3.7 crore for CAS manipulation
SEBI has fined two brokerage firms ₹3.7 crore for manipulating the Closing Auction Session of the SENSEX. The firms allegedly placed and cancelled large orders to artificially influence closing prices for derivative profit.
Why it matters
Demonstrates regulatory efforts to maintain market integrity and prevent price manipulation in financial exchanges.
Hours after SEBI Chairman Tuhin Kanta Pandey warned CAS manipulators of strict consequences, the regulator released an Ex-Parte interim order pulling up two investment and brokerage firms, for manipulating in Closing Auction Session (CAS) in SENSEX on August 13 2026, the expiry day.
The Securities and Exchange Board of India (SEBI) charged Copthall Mauritius Investment Limited and Mansi Share and Stock Broking Private Limited were charged a fine of ₹3.7 crore as they manipulated the markets during the newly introduced closing auction session to determine closing price.
The manipulation led to three spikes, and Copthall made large buy orders, constituting at least 85% of all buy orders made minutes before the SENSEX closed. Copthall simultaneously cancelled its latest buy order. SEBI determines a deviation from the average price to be at a maximum of 3% in the CAS. All of Copthall buy orders were above this mark.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in