SEBI finds broker manipulated share prices with fake orders at 'unprecedented scale'
SEBI banned stock broker PWAPL and its directors from securities market and ordered them to return ₹3.22-crore illegal gains after the regulator uncovered order spoofing at "unprecedented scale". Spoofing involves placing large, fake orders that are below the market price to create a false impression of demand. SEBI found PWAPL engaged in spoofing across 173 stocks over 292 trading sessions.