Centennial Surgical Suture Ltd (Scrip Code: 531308) has submitted a formal complaint to the Executive Director of the Investigation/Surveillance Department at BSE Limited, with a copy to SEBI, regarding suspected price manipulation and unusual trading activity in its equity shares.
The company highlights a specific instance on the date of the letter, October 21, 2026, where only one equity share was traded in the morning session at a price of ₹71.25. This is presented as part of a frequent pattern of unusual trades.
The disclosure alleges the activity is premeditated and could involve fraudulent persons from neighboring countries (Pakistan, Nepal, Bangladesh) living in India. The company characterizes the trading as a possible price manipulation scheme, not based on mere suspicion, and promises to provide detailed purchase and sale data to support its claim.
The modus operandi described involves numerous buyers purchasing very small quantities of shares (e.g., 1, 2, 3, 5, 10, 20 shares) from brokers spread across India, with some buyers being repeat participants. The company suggests this structure is designed to avoid surveillance from SEBI and BSE. The analysis points to common persons/entities engaging in synchronized trading amongst themselves to contribute to price rises, indicating a schemed and pre-planned effort with mala fide intention.
A key mechanism mentioned is the use of the exchange's upper/lower circuit filters to control trading and prevent transactions outside the alleged syndicate. The company poses the central question of whether the decision should be guided solely by legal documentary trading evidence or by the general observations of the trading pattern, probabilities, human behavior, and the discovered modus operandi of price rigging.
The company confirms it has not made any material announcements that could justify the significant price movements observed. It formally requests a complete investigation (probe) into the unusual trading pattern and scrip, offering full assistance from the company and its promoters. The stated purpose of the complaint is to protect shareholder interests and curb any misuse, unethical, or illegal activities adversely affecting the company's reputation.
The company and its promoters, directors, or associates explicitly and unequivocally deny any role in the alleged misuse, unethical, or illegal activities. The letter concludes by urging BSE and SEBI to treat the matter as an emergency, investigate the recent price movement and operations, and initiate appropriate penal actions against concerned broking houses and/or their clients to immediately bring the conspirators to book.