sebi:EAD-7/BJD/NJMR/2018-19/1731
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Facts / Headnote
Noticee held liable for violating Regulations 3(a), 3(b), 3(c), 3(d), 4(1) and 4(2)(a) of SEBI (PFUTP) Regulations, 2003; monetary penalty imposed under Section 15HA of SEBI Act
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15I
- s. 15J
- s. 15I(1)
Regulations
- Reg. 3
- Reg. 4
- Reg. 2(1)(c)
- Reg. 3(a)
Parties
- Payal Commercial Company Ltd.
Holding
The Noticee had indulged in execution of reversal trades in Stock Options with same entities on the same day, which are non-genuine in nature and have created false or misleading appearance of trading in terms of artificial volumes, thereby violating Regulations 3(a), 3(b), 3(c), 3(d), 4(1) and 4(2)(a) of SEBI (PFUTP) Regulations, 2003.
Full text
Adjudication Order in respect of Payal Commercial Company Ltd., Page 2 of 22 one of the various entities which were indulged in execution of non-genuine trades in Stock Options Segment of BSE during the investigation period. The following points narrate the dealings of the Noticee during the investigation period and the allegations against it for execution of non-genuine trades.
Adjudication Order in respect of Payal Commercial Company Ltd., Page 3 of 22 Sl. No Contract Name Avg. Buy Rate (`) Total Buy Volume (no. of units) Avg. Sell Rate (`) Total Sell Volume (no. of units) Numb er of non genuin e trades execut ed by Entity in the Contra ct Total num ber of trade s exec uted by the Entit y in the Contr act Total num ber of trade s exec uted in the contr act % of Non Genuine trades of Noticee in the contract to Noticee’s Total trades in the Contract % of Non Genuine trades of Entity in the contract to Total trades in the Contract % of Artificial Volume generate d by Noticee in the contract to Noticee’ s Total Volume in the Contract % of Artificial Volume generated by Noticee in the contract to Total Volume in the Contract 14 RPOW15APR70.00CEW1 2.14 324000 0.05 324000 3 3 3 100% 100% 100% 100% 15 RPOW15FEB70.00CE 1.00 316000 0.05 316000 2 2 12 100% 17% 100% 30% 16 TATP15MAR75.00PEW2 1.85 456000 0.10 456000 5 5 24 100% 21% 100% 22% 17 TATP15MAR80.00PEW2 1.90 544000 0.10 544000 3 3 5 100% 60% 100% 89%
Adjudication Order in respect of Payal Commercial Company Ltd., Page 4 of 22 4(1) and 4(2) (a) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003.
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Source: SecMarx — sebi:EAD-7/BJD/NJMR/2018-19/1731. 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.