sebi:EAD-5/MC/CB/2019-20/3518
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Facts / Headnote
Violation established; penalty of Rs. 10,00,000 imposed under Section 15HA of the SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Ms. Leelaben Sureshchandra Kachadia
Holding
The Noticee violated Regulations 3(a), 4(1) and 4(2)(a) of the PFUTP Regulations by executing 473 non-genuine reversal trades in 66 illiquid stock option contracts, and was held liable to a monetary penalty of Rs. 10,00,000 under Section 15HA of the SEBI Act.
Full text
Adjudication Order in the matter of dealing in Illiquid Stock Options at the BSE Page 2 of 15 APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in the matter of dealing in Illiquid Stock Options at the BSE Page 3 of 15 S. No. Contract Name Avg. Buy Rate (Rs.) Total Buy Volume (no. of units) Avg. Sell Rate (Rs.) Total Sell Volume (no. of units) % of Artificial Volume generate d by Noticee in the contract to Noticee’ s Total Volume in the Contract % of Artificial Volume generate d by Noticee in the contract to Total Volume in the Contract
Adjudication Order in the matter of dealing in Illiquid Stock Options at the BSE Page 4 of 15 26. IFCI15FEB34.00CE 1.87 352000 3.61 352000 100% 20%
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Source: SecMarx — sebi:EAD-5/MC/CB/2019-20/3518. 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.