https://marketmanipulation.org/cases/agency/SEBI/ The 30 most recent Securities and Exchange Board of India records in the Market Manipulation library, each linked to its primary source. en-us Tue, 29 Sep 2026 00:00:00 GMT https://marketmanipulation.org/cases/sebi-104811-market-abuse-2026/ https://marketmanipulation.org/cases/sebi-104811-market-abuse-2026/ In September 2026 SEBI settled potential enforcement against Lloyds Enterprises Limited, its managing director and its chief financial officer over advances of about Rs 144.82 crore that were not provided for in the company's accounts. The three paid Rs 4.16 crore in total without admitting or denying the allegations. Tue, 29 Sep 2026 00:00:00 GMT SEBI misleading-issuer-disclosure https://marketmanipulation.org/cases/sebi-104747-market-abuse-2026/ https://marketmanipulation.org/cases/sebi-104747-market-abuse-2026/ In September 2026 SEBI settled proceedings against Nutrikosh India Private Limited and Alok Chaudhary over the Growpital platform, accused of acting as a conduit in a scheme that took investor money on promises of assured tax-free returns. Each paid Rs 40,56,000, neither admitting nor denying the allegations. Mon, 28 Sep 2026 00:00:00 GMT SEBI https://marketmanipulation.org/cases/sebi-104766-market-abuse-2026/ https://marketmanipulation.org/cases/sebi-104766-market-abuse-2026/ In September 2026, on remand from the Securities Appellate Tribunal, a SEBI adjudicating officer again found that Madhukar Dubey and his proprietorship Magnum Industrial Corporation were one of eight funding entities behind applications in the Channel Nine Entertainment SME IPO, and fined them Rs 5 lakh. The earlier joint penalty of Rs 8 lakh had been appealed on the ground that his documents were misused. Mon, 28 Sep 2026 00:00:00 GMT SEBI https://marketmanipulation.org/cases/sebi-104726-misleading-issuer-disclosure-2026/ https://marketmanipulation.org/cases/sebi-104726-misleading-issuer-disclosure-2026/ A SEBI senior officer found that Omaxe Limited's own money, routed through related companies and brokers, paid for shares bought in two 2013 offers for sale that were then counted towards the company's minimum public shareholding. The September 2026 order restrained six noticees from the securities market for between three months and a year and imposed penalties totalling Rs 1.92 crore. Thu, 24 Sep 2026 00:00:00 GMT SEBI misleading-issuer-disclosure https://marketmanipulation.org/cases/sebi-104646-matched-orders-2026/ https://marketmanipulation.org/cases/sebi-104646-matched-orders-2026/ On remand from the Securities Appellate Tribunal, a SEBI adjudicating officer re-examined the allegation that a Mumbai pan-shop owner was part of a 51-member group whose synchronized trades inflated Well Pack Papers and Containers Ltd. In September 2026 the officer found the fraud charge unproven and disposed of the proceedings without a penalty. Tue, 22 Sep 2026 00:00:00 GMT SEBI matched-orders price-manipulation https://marketmanipulation.org/cases/sebi-104152-misleading-issuer-disclosure-2026/ https://marketmanipulation.org/cases/sebi-104152-misleading-issuer-disclosure-2026/ A SEBI quasi-judicial authority found in August 2026 that Tarapur Transformers, a listed transformer maker, diverted funds to related parties and overstated trade receivables, and that a director did not cooperate with SEBI's summons. The order restrains nine noticees for three to five years and penalises two individuals Rs 32 lakh in total. Mon, 31 Aug 2026 00:00:00 GMT SEBI misleading-issuer-disclosure https://marketmanipulation.org/cases/sebi-104109-misleading-issuer-disclosure-2026/ https://marketmanipulation.org/cases/sebi-104109-misleading-issuer-disclosure-2026/ A SEBI whole-time member found in August 2026 that the SME IPO prospectus of Trafiksol ITS Technologies contained misleading financial disclosures and concealed material facts, with the company and its two promoters held responsible. Each is restrained for a year, and penalties total Rs 1.05 crore. Fri, 28 Aug 2026 00:00:00 GMT SEBI misleading-issuer-disclosure https://marketmanipulation.org/cases/sebi-104110-misleading-issuer-disclosure-2026/ https://marketmanipulation.org/cases/sebi-104110-misleading-issuer-disclosure-2026/ A SEBI whole-time member found in August 2026 that Debock Industries moved to the NSE main board through fictitious preferential issues, inflated its sales and purchases, and diverted Rs 49 crore of a rights issue to its promoters and related entities. Eleven noticees are debarred for two to seven years, three must disgorge about Rs 59.31 crore, and penalties total Rs 29.57 crore. Fri, 28 Aug 2026 00:00:00 GMT SEBI misleading-issuer-disclosure price-manipulation https://marketmanipulation.org/cases/sebi-104019-misleading-issuer-disclosure-2026/ https://marketmanipulation.org/cases/sebi-104019-misleading-issuer-disclosure-2026/ A SEBI whole-time member found in August 2026 that Varanium Cloud, an SME-listed company, misrepresented its financial statements and prospectus and diverted Rs 62.51 crore of IPO and rights-issue money, while its promoter sold shares at inflated prices. The final order imposes debarments of up to seven years, disgorgement of about Rs 128.77 crore from the promoter and penalties totalling Rs 33.08 crore. Tue, 25 Aug 2026 00:00:00 GMT SEBI misleading-issuer-disclosure price-manipulation https://marketmanipulation.org/cases/sebi-103935-misleading-issuer-disclosure-2026/ https://marketmanipulation.org/cases/sebi-103935-misleading-issuer-disclosure-2026/ In August 2026 a SEBI whole-time member disposed of, without any direction or penalty, proceedings against Max Financial Services, Max Life, three Axis group companies and seven current or former officers. The notice alleged a scheme to give Axis Bank extra benefits through share issues and buy-backs and incomplete disclosures; the order found fraud and the disclosure charges not established. Mon, 24 Aug 2026 00:00:00 GMT SEBI misleading-issuer-disclosure https://marketmanipulation.org/cases/sebi-103883-market-abuse-2026/ https://marketmanipulation.org/cases/sebi-103883-market-abuse-2026/ In August 2026 SEBI found that the stockbroker Modex International Securities Limited misused client funds and securities, falsified its books and paid assured returns to clients, in breach of the PFUTP Regulations. It restrained the firm and director Pavan Kumar Sachdeva until client claims are settled through NSE and fined each Rs 7 lakh. Fri, 21 Aug 2026 00:00:00 GMT SEBI https://marketmanipulation.org/cases/sebi-103770-matched-orders-2026/ https://marketmanipulation.org/cases/sebi-103770-matched-orders-2026/ In August 2026 a SEBI adjudicating officer found that a dealer at Kaushik Shah Shares and Securities, with his wife and family HUF, traded ahead of 72 large orders of that broker's biggest client between 2021 and 2025. The three are jointly penalised Rs 10 lakh. Wed, 19 Aug 2026 00:00:00 GMT SEBI front-running https://marketmanipulation.org/cases/sebi-103590-insider-trading-2026/ https://marketmanipulation.org/cases/sebi-103590-insider-trading-2026/ In August 2026 a SEBI whole-time member reviewed under section 15-I(3) an adjudicating officer's finding that an Indian Oil employee did not pass quarterly-results information to his parents-in-law, who traded in the company's derivatives. The member found no error in that finding and declined to interfere, so no violation stands and no penalty was imposed. Thu, 13 Aug 2026 00:00:00 GMT SEBI insider-trading https://marketmanipulation.org/cases/sebi-103309-social-media-ramps-2026/ https://marketmanipulation.org/cases/sebi-103309-social-media-ramps-2026/ A SEBI adjudicating officer found in August 2026 that videos on a YouTube channel promoted Decillion Finance shares while connected traders bought and sold, with the price rising from about Rs 22 to Rs 95 between October 2022 and January 2023. The order imposes PFUTP penalties on eleven noticees and takeover-code disclosure penalties on others. Mon, 03 Aug 2026 00:00:00 GMT SEBI social-media-ramps price-manipulation https://marketmanipulation.org/cases/sebi-103289-misleading-issuer-disclosure-2026/ https://marketmanipulation.org/cases/sebi-103289-misleading-issuer-disclosure-2026/ In July 2026 a SEBI quasi-judicial authority held that two promoters of SecureKloud Technologies dealt in its shares while holding unpublished information about the company's inflated financial statements. Each is barred for two years after an existing bar ends and penalised Rs 10 lakh; the notice against a third promoter was disposed of without direction. Fri, 31 Jul 2026 00:00:00 GMT SEBI insider-trading https://marketmanipulation.org/cases/sebi-103299-misleading-issuer-disclosure-2026/ https://marketmanipulation.org/cases/sebi-103299-misleading-issuer-disclosure-2026/ A July 2026 SEBI order found that title deeds to a Hyderabad property of Zee Entertainment were pledged in December 2018 as security for Essel Group borrowers' loans without proper authorisation or disclosure. It restrains the company for two months and its former chairman and managing director for twelve months each, with penalties of Rs 1.48 crore in total. Fri, 31 Jul 2026 00:00:00 GMT SEBI misleading-issuer-disclosure https://marketmanipulation.org/cases/sebi-103248-social-media-ramps-2026/ https://marketmanipulation.org/cases/sebi-103248-social-media-ramps-2026/ A SEBI adjudicating officer ruled in July 2026 that four people who arranged and posted paid Telegram stock recommendations in Moksh Ornaments in early 2022 breached the PFUTP rules, with penalties totalling Rs 55 lakh. The case against nine others, including the Gupta family and three trading firms accused of selling into the rise, ended without penalty. Thu, 30 Jul 2026 00:00:00 GMT SEBI social-media-ramps paid-stock-promotion https://marketmanipulation.org/cases/sebi-103251-misleading-issuer-disclosure-2026/ https://marketmanipulation.org/cases/sebi-103251-misleading-issuer-disclosure-2026/ A SEBI whole-time member ruled in July 2026 that Kalahridhaan Trendz and its managing director made false and misleading announcements, including a large buy order from a fictitious Bangladeshi buyer, and that the company did not disclose a bank default. The final order restrains the company and three directors and imposes penalties totalling Rs 1 crore. Thu, 30 Jul 2026 00:00:00 GMT SEBI misleading-issuer-disclosure fake-press-releases https://marketmanipulation.org/cases/sebi-103102-social-media-ramps-2026/ https://marketmanipulation.org/cases/sebi-103102-social-media-ramps-2026/ A SEBI adjudicating officer found in July 2026 that three of thirteen noticees circulated stock recommendations on Telegram channels to push up the price and volume of Akash Infra-Projects shares in 2021 and 2022. They are jointly penalised Rs 20 lakh; the order does not sanction the other ten. Tue, 28 Jul 2026 00:00:00 GMT SEBI social-media-ramps price-manipulation https://marketmanipulation.org/cases/sebi-103044-misleading-issuer-disclosure-2026/ https://marketmanipulation.org/cases/sebi-103044-misleading-issuer-disclosure-2026/ In July 2026 a SEBI quasi-judicial authority disposed of a 2024 show-cause notice alleging that Hexa Tradex Limited and fourteen promoter-group persons and companies shifted its investments in a subsidiary to private group companies without proper process, making its financials misleading. It held that the allegations fail on preliminary points and on merits, with no directions or penalty. Fri, 24 Jul 2026 00:00:00 GMT SEBI misleading-issuer-disclosure https://marketmanipulation.org/cases/sebi-103046-front-running-2026/ https://marketmanipulation.org/cases/sebi-103046-front-running-2026/ A July 2026 SEBI final order found that a stockbroker's proprietary desk traded ahead of orders of a very large institutional client, using information from two dealers at other brokers who overheard those orders. It orders disgorgement of about Rs 2.51 crore, one-year restraints on all six noticees and Rs 5 lakh penalties each. Fri, 24 Jul 2026 00:00:00 GMT SEBI front-running https://marketmanipulation.org/cases/sebi-102636-insider-trading-2026/ https://marketmanipulation.org/cases/sebi-102636-insider-trading-2026/ In July 2026 a SEBI adjudicating officer found that SEBI had not shown that the promoter of a refractory company, which sold its business to RHI Magnesita India, held inside information about RHI's planned acquisition of Dalmia OCL when he traded RHI shares in 2022. The insider trading charge was held not established and no penalty was imposed. Tue, 07 Jul 2026 00:00:00 GMT SEBI insider-trading https://marketmanipulation.org/cases/sebi-102459-price-manipulation-2026/ https://marketmanipulation.org/cases/sebi-102459-price-manipulation-2026/ In June 2026 a SEBI adjudicating officer gave a trader the benefit of the doubt on charges that he pushed up the price of Evexia Lifecare shares with many one-share buy orders. The order found the manipulation not established on the balance of probabilities and imposed no penalty. Tue, 30 Jun 2026 00:00:00 GMT SEBI price-manipulation https://marketmanipulation.org/cases/sebi-102465-market-abuse-2026/ https://marketmanipulation.org/cases/sebi-102465-market-abuse-2026/ In June 2026 a SEBI adjudicating officer penalised four directors of Citrus Check Inns Limited a total of Rs 1.10 crore for fraudulent mobilisation of about Rs 2,722 crore from the public through unregistered holiday investment plans. The company, in insolvency, was disposed of without penalty. Tue, 30 Jun 2026 00:00:00 GMT SEBI https://marketmanipulation.org/cases/sebi-102471-matched-orders-2026/ https://marketmanipulation.org/cases/sebi-102471-matched-orders-2026/ A June 2026 SEBI final order found that Hanif Shekh and 225 other entities took part in a scheme to inflate the price and volume of five thinly traded scrips between 2017 and 2020 through connected-party trades and bulk buy recommendations, then sold into the rise. It restrains 223 noticees for four to seven years, orders disgorgement and imposes tiered penalties. Tue, 30 Jun 2026 00:00:00 GMT SEBI matched-orders pump-and-dump price-manipulation https://marketmanipulation.org/cases/sebi-102163-misleading-issuer-disclosure-2026/ https://marketmanipulation.org/cases/sebi-102163-misleading-issuer-disclosure-2026/ In June 2026 a SEBI adjudicating officer found that allegations against Prime Focus Limited and eight of its directors and officers of publishing misleading financial statements for 2019-20 to 2021-22 were not established. The order disposed of the proceedings without any penalty. Tue, 16 Jun 2026 00:00:00 GMT SEBI misleading-issuer-disclosure https://marketmanipulation.org/cases/sebi-101736-social-media-ramps-2026/ https://marketmanipulation.org/cases/sebi-101736-social-media-ramps-2026/ A May 2026 SEBI order found that publicity for the SME IPO of Veerkrupa Jewellers, including a news-site article and social media videos, was part of a fraudulent scheme, and that connected traders and the market maker moved the share price and volume after listing. Seventeen noticees receive market restraints of three to five years and some must disgorge gains. Fri, 29 May 2026 00:00:00 GMT SEBI paid-stock-promotion social-media-ramps price-manipulation https://marketmanipulation.org/cases/sebi-1780045331-misleading-issuer-disclosure-2026/ https://marketmanipulation.org/cases/sebi-1780045331-misleading-issuer-disclosure-2026/ A SEBI whole-time member reviewed an adjudicating officer's June 2025 decision that had cleared Suzlon Energy and four officials, set it aside, and held that the company's financial statements and disclosures had been misleading. The May 2026 order imposed penalties totalling Rs 28.95 crore. Fri, 29 May 2026 00:00:00 GMT SEBI misleading-issuer-disclosure https://marketmanipulation.org/cases/sebi-101474-social-media-ramps-2026/ https://marketmanipulation.org/cases/sebi-101474-social-media-ramps-2026/ A SEBI adjudicating officer re-decided in May 2026, after remand by the Securities Appellate Tribunal, a case alleging price manipulation of Darshan Orna Limited using Telegram tips in 2021 and 2022. The order again imposes penalties, Rs 2.9 crore on three members of one group and Rs 20 lakh on a second pair, each paid jointly and severally. Fri, 15 May 2026 00:00:00 GMT SEBI social-media-ramps price-manipulation https://marketmanipulation.org/cases/sebi-101405-insider-trading-2026/ https://marketmanipulation.org/cases/sebi-101405-insider-trading-2026/ In May 2026 a SEBI whole-time member found that the executive chairperson of Religare Enterprises sold shares while holding unpublished information about an impending open offer by the Burman group. The final order requires disgorgement of the Rs 1.99 crore loss avoided, with interest, and a Rs 40 lakh penalty. Wed, 13 May 2026 00:00:00 GMT SEBI insider-trading