SEBI freezes ₹28 crore, bars broker from derivatives trading over price rigging
Regulator says Mumbai broker and a linked company ran a novel scheme to fake profits in stock futures and options
The Securities and Exchange Board of India (SEBI) has imposed a freeze on the bank accounts of Mumbai-based stock brokers Prrsaar Sampada and Chaubara Eats, seizing approximately ₹28.12 crore. SEBI alleges that the companies orchestrated a price manipulation scheme in stock futures and options, generating substantial profits while simultaneously booking losses on matching trades.
The regulator scrutinized 23 individual trading sessions involving various stocks, including KFin Technologies, Swiggy, and others, between December 2025 and June 2026. SEBI's Kamlesh Varshney explained that the cross-segment price manipulation, involving stock options and futures, coupled with deceptive orders and coordinated trading, constituted a novel, fraudulent, and unfair trade practice.
Prrsaar halted the activity in their own account following initial concerns from the National Stock Exchange, but Chaubara continued the pattern until August 2026. The regulator has impounded ₹22.06 crore from Prrsaar and ₹6.05 crore from Chaubara as illegal gains, while the six individuals associated with the companies are barred from derivatives trading until the funds are deposited in a fixed deposit account.
All six parties remain unable to trade in derivatives, though they can continue trading in regular stocks. Their demat accounts are frozen, and they must disclose all their assets within 15 days. The six parties have 21 days to respond to SEBI or request a hearing, with comments to be submitted in English and full sentences, adhering to SEBI's community guidelines.
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