Kanungo Financiers Ltd — Important, 08-07-2026: Company Update

Kanungo Financiers Ltd. has received a market regulator's Final Order concerning a widespread market manipulation scheme. The regulator found that a central figure orchestrated price and volume manipulation across five scrips, including Mauria Udyog Ltd., using bulk SMS buy tips. Kanungo Financiers Ltd. was identified as a conduit entity that channeled unlawful gains. The company faces a 4-year ban from the securities market and a ₹50 lakh monetary penalty. It is also jointly and severally liable to disgorge ₹12.58 crore in unlawful gains, part of the scheme's total ₹143.79 crore.