SEBI has taken strict action against Copthall Mauritius and Mansi Share for allegedly manipulating the Sensex closing price during the August 13 Closing Auction Session.
Copthall placed aggressive buy orders up to 3% above reference prices, accounting for nearly all buy value in key spikes. It later cancelled orders worth ₹98.12 crore.
Mansi placed 12.65 lakh aggressive sell orders across eight Sensex stocks, including 7.05 lakh shares at 2.5% below reference prices. The entire block was later cancelled.
SEBI linked these trades to expiry-day Sensex options positions, alleging they were aimed at influencing the index’s IEP to secure wrongful F&O gains. Copthall’s gains were estimated at ₹2.96 crore and Mansi’s at ₹71.65 lakh, totalling ₹3.68 crore.
SEBI ordered impounding of this amount, directing banks to keep it in fixed deposits with a lien in favour of SEBI. Both entities have been restrained from accessing the securities market and barred from participating in the Closing Auction Session.
SEBI also restricted debits from their accounts, subject to exceptions. The regulator said immediate interim action was necessary to protect fair price discovery and market integrity, with directions to remain in force until further orders.
