SEBI: adjudication order in matter of Nuvama Wealth

SEBI: adjudication order in matter of Nuvama Wealth

The Securities and Exchange Board of India (SEBI) has issued an adjudication order in the matter of Nuvama Wealth, a prominent investment management firm. The order, released on July 2, 2025, outlines the regulator's findings and imposes penalties on the firm for alleged market manipulation and non-compliance with regulatory norms.

SEBI's investigation revealed that Nuvama Wealth engaged in market manipulation activities, particularly by artificially inflating the prices of certain stocks. The regulator found that the firm's actions were aimed at generating illicit profits, which led to significant market distortions. The adjudication order highlights that Nuvama Wealth's manipulative practices were identified through extensive monitoring and analysis of market transactions.

In response to these findings, SEBI has imposed a penalty of Rs 10 crore on Nuvama Wealth. Additionally, the regulator has directed the firm to refund the amounts illegally gained through market manipulation to the affected investors. The order also includes a ban on the firm's directors and key personnel from engaging in any securities-related activities for a period of five years.

SEBI has emphasized that the adjudication order underscores its commitment to maintaining fair and transparent markets. The regulator has stated that it will continue to monitor the activities of investment firms to ensure compliance with regulatory norms and to prevent market manipulation.

References:
[1] https://www.business-standard.com/markets/news/aifs-must-lead-esg-adoption-in-unlisted-space-says-sebi-official-125071501185_1.html
[2] https://www.newindianexpress.com/business/2025/Jul/14/jane-street-complies-with-sebi-order-deposits-rs-48435-crore-in-escrow-account