Stocks
India Lifts JPMorgan Subsidiary Trading Ban After Rs. 2.96 Crore Deposit
India's Securities and Exchange Board (SEBI) has lifted its trading ban on Copthall Mauritius Investment Ltd, a subsidiary of JPMorgan Chase & Co. The move comes after the firm deposited Rs. 2.96 crore in accordance with an interim order issued by SEBI.
The ban was imposed on August 13 due to alleged manipulative trading activity by Copthall and Mansi Share and Stock Broking, which affected the indicative equilibrium price of the BSE Sensex.
SEBI ordered both firms to pay off unlawful gains and has given them 21 days to reply to formal queries. The regulator will continue its investigation into the matter.