SEBI bans Prrsaar Sampada and Chaubara Eats over ₹28.1cr manipulation
SEBI has banned Prrsaar Sampada and Chaubara Eats from trading after accusing them of manipulating stock derivatives to pocket about ₹28.1 crore.
The regulator says these companies used complicated options and futures strategies to influence prices, especially in smaller-cap stocks, by intentionally taking losses in one area to boost profits elsewhere.
SEBI impounds alleged wrongful gains
The investigation called this cross-segment price manipulation, since the firms targeted the 100 smallest listed companies, stocks that are easier to sway with less money.
After the National Stock Exchange flagged suspicious trades earlier this year, Prrsaar Sampada's activity dropped, but similar patterns popped up at Chaubara Eats.
Now, SEBI has ordered impounding of the alleged wrongful gains pending investigations.