Index manipulation case: Sebi lifts trading ban on JPMorgan unit after Rs 2.96 crore deposit
Copthall Mauritius Investment Ltd., a JPMorgan unit based in Mauritius, and Mansi Share and Stock Broking deposited the money last month
- Sep 9, 2026,
- Updated Sep 9, 2026 9:08 PM IST
A JPMorgan Chase unit has been allowed to resume trading in India's capital markets after depositing Rs 2.96 crore to comply with an order by the Securities and Exchange Board of India (Sebi), Bloomberg reported on Wednesday, citing people familiar with the matter.
Copthall Mauritius Investment Ltd., a JPMorgan unit based in Mauritius, and Mansi Share and Stock Broking deposited the money last month, the report said.
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The payment relates to alleged unlawful gains from trades during the closing auction session on the BSE on August 13. Sebi had accused both entities of market manipulation in an interim order issued in August.
While Sebi has now allowed both entities to trade, its investigation into the alleged manipulation will continue.
Sebi had ordered Copthall and Mansi Share to hand over the alleged gains after finding that they executed manipulative trades during the end-of-day auction.
According to the findings cited by Bloomberg, the trades were aimed at influencing the indicative equilibrium price of the BSE Sensex Index and benefiting the entities' options positions linked to the benchmark.
Sebi had given both companies 21 days to respond to its allegations.
The market regulator is now expected to issue a confirmatory order after examining their formal responses and giving both entities an opportunity for an in-person hearing.
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JPMorgan's India Operations Unaffected
Copthall is registered in Mauritius and has a history of investment activity in India. It once held Indian stocks worth more than Rs 5,500 crore, according to Trendlyne.com data cited by Bloomberg. Its holdings had fallen to less than Rs 38 crore as of June 30.
Copthall is separate from J.P. Morgan India Pvt., which is registered with Sebi as a stock broker and merchant banker.
The action against the Mauritian entity therefore does not directly affect most of JPMorgan's activities in India, which are conducted through its local unit.
A JPMorgan Chase unit has been allowed to resume trading in India's capital markets after depositing Rs 2.96 crore to comply with an order by the Securities and Exchange Board of India (Sebi), Bloomberg reported on Wednesday, citing people familiar with the matter.
Copthall Mauritius Investment Ltd., a JPMorgan unit based in Mauritius, and Mansi Share and Stock Broking deposited the money last month, the report said.
Must Read: Nifty IT tumbles 3%: Near-term trend weak; AI concerns, US rate worries weigh
The payment relates to alleged unlawful gains from trades during the closing auction session on the BSE on August 13. Sebi had accused both entities of market manipulation in an interim order issued in August.
While Sebi has now allowed both entities to trade, its investigation into the alleged manipulation will continue.
Sebi had ordered Copthall and Mansi Share to hand over the alleged gains after finding that they executed manipulative trades during the end-of-day auction.
According to the findings cited by Bloomberg, the trades were aimed at influencing the indicative equilibrium price of the BSE Sensex Index and benefiting the entities' options positions linked to the benchmark.
Sebi had given both companies 21 days to respond to its allegations.
The market regulator is now expected to issue a confirmatory order after examining their formal responses and giving both entities an opportunity for an in-person hearing.
In Case You Missed It: Sensex, Nifty extend losing run; investor wealth drops by over Rs 4 lakh crore in three days
JPMorgan's India Operations Unaffected
Copthall is registered in Mauritius and has a history of investment activity in India. It once held Indian stocks worth more than Rs 5,500 crore, according to Trendlyne.com data cited by Bloomberg. Its holdings had fallen to less than Rs 38 crore as of June 30.
Copthall is separate from J.P. Morgan India Pvt., which is registered with Sebi as a stock broker and merchant banker.
The action against the Mauritian entity therefore does not directly affect most of JPMorgan's activities in India, which are conducted through its local unit.