sebi:EAD-7/BJD/VS/2018-19/1596

SEBI · SEBI · B J Dilip, Adjudicating Officer

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Facts / Headnote

Noticee found in violation of Regulations 3(a), 3(b), 3(c), 3(d), 4(1) and 4(2)(a) of SEBI (PFUTP) Regulations, 2003; 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

• Raghuveer Concast Pvt Ltd

Holding

The Noticee, Raghuveer Concast Pvt Ltd, was held to have violated Regulations 3(a), 3(b), 3(c), 3(d), 4(1) and 4(2)(a) of the SEBI (PFUTP) Regulations, 2003 by executing non-genuine reversal trades in illiquid stock options on BSE, creating artificial volume and engaging in manipulative and deceptive trade practices.

Full text

Adjudication Order in respect of Raghuveer Concast Pvt Ltd Page 2 of 24 Raghuveer Concast Pvt Ltd., (hereinafter referred to as “Noticee”) was 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 Raghuveer Concast Pvt Ltd Page 3 of 24 S. No Contract Name Avg. Buy Rate (Rs.) Total Buy Volume (no. of units) Avg. Sell Rate (Rs.) 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 12 OBNK15MAR240.00CE 0.60 167000 6.60 167000 2 2 10 100% 20% 100% 30% 13 TCSL15APR2550.00PE 21.00 80000 71.00 80000 2 2 20 100% 10% 100% 30% 14 WIPR15APR580.00CE 24.00 140000 49.00 140000 2 2 4 100% 50% 100% 50% 15 YESB15APR800.00PE 3.80 86500 18.80 86500 2 2 10 100% 20% 100% 15%

Adjudication Order in respect of Raghuveer Concast Pvt Ltd Page 4 of 24 4(1) and 4(2) (a) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003.

Source: SecMarx — sebi:EAD-7/BJD/VS/2018-19/1596. 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.