sebi:EAD/SR/SJ/AO/109/2018-19

SEBI · SEBI · 2018-10-25 · Sangeeta Rathod, Adjudicating Officer

Reviewed by Varun Matlani, Advocate — Securities Lawyer practicing in SAT and SEBI

Facts / Headnote

Penalty imposed on the Noticee for violation of PFUTP Regulations, 2003

Provisions invoked

s. 15
s. 15H
s. 15I
s. 15J

Regulations relied on

SEBI (PFUTP) Regulations, 2003 — 3(a)
SEBI (PFUTP) Regulations, 2003 — 3(b)
SEBI (PFUTP) Regulations, 2003 — 3(c)
SEBI (PFUTP) Regulations, 2003 — 3(d)
SEBI (PFUTP) Regulations, 2003 — 4(1)
SEBI (PFUTP) Regulations, 2003 — 4(2)(a)

Parties

Smitsagar Tracon Private Limited

Holding

The Noticee, Smitsagar Tracon Private Limited, was found to have violated Regulations 3(a), (b), (c) and (d), 4(1) and 4(2)(a) of the PFUTP Regulations, 2003 by executing 63 non-genuine reversal trades in 17 illiquid stock options contracts at BSE, and a penalty of Rs. 5,00,000/- was imposed under section 15HA of the SEBI Act, 1992.

Full text

Adjudication Order against Smitsagar Tracon Private Limited in the matter of dealings in Illiquid Stock Options at BSE Page 2 of 16

Adjudication Order against Smitsagar Tracon Private Limited in the matter of dealings in Illiquid Stock Options at BSE Page 3 of 16

Adjudication Order against Smitsagar Tracon Private Limited in the matter of dealings in Illiquid Stock Options at BSE Page 4 of 16

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Source: SecMarx — sebi:EAD/SR/SJ/AO/109/2018-19. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.