Stocks
SEBI Lifts Ban on JPMorgan Unit in Index Manipulation Case
The Securities and Exchange Board of India (SEBI) has lifted its ban on Copthall Mauritius Investment Ltd, a unit of JPMorgan, and Mansi Share and Stock Broking from participating in the equity segment's Closing Auction Session (CAS).
The regulator had imposed the ban following an investigation into alleged manipulation of the Sensex on BSE during the CAS on August 13.
Copthall deposited Rs. 2.96 crore, while Mansi deposited Rs. 71.65 lakh, representing the alleged wrongful gains that SEBI ordered impounded in its August 19 ex-parte interim order.
The ban on participating in the CAS continues until further orders, as SEBI had detected three sharp movements in the Sensex's indicative equilibrium price during the auction.