Story perspectives

ED Freezes Rs 200 Crore Trading Accounts in Probe

By Drooid · Oct 20, 2026, 4:11 AM UTC · How we work

Summary

Story summary

India’s Enforcement Directorate froze trading accounts worth about Rs 200 crore in a pump-and-dump probe.
The agency searched 29 premises in Mumbai, Nashik, Ahmedabad, Gandhinagar, Surat and Bhavnagar on Oct 16, seizing documents and devices.
From Apr 2023 to Mar 2024, the firms issued over 3.5 crore shares and convertible warrants to a small circle.
Investor count rose to over one lakh and shares fell 70 % after the groups vanished on Feb 25 2026.

History

Historical Context

Harshad Mehta’s 1992 manipulation of the Bombay Stock Exchange, using forged bank receipts to siphon roughly Rs 5,000 crore and trigger a market crash, prompted the Securities and Exchange Board of India to tighten disclosure rules and strengthen enforcement. Those reforms now enable the Enforcement Directorate, in October 2026, to freeze Rs 200 crore of accounts across Mumbai, Nashik, Ahmedabad and Surat.

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Story summary

India’s Enforcement Directorate froze trading accounts worth about Rs 200 crore in a pump-and-dump probe.
The agency searched 29 premises in Mumbai, Nashik, Ahmedabad, Gandhinagar, Surat and Bhavnagar on Oct 16, seizing documents and devices.
From Apr 2023 to Mar 2024, the firms issued over 3.5 crore shares and convertible warrants to a small circle.
Investor count rose to over one lakh and shares fell 70 % after the groups vanished on Feb 25 2026.

1 / 2