sebi:MC/DPS/2018-19/31

SEBI · SEBI · 2018-05-31 · Maninder Cheema, Adjudicating Officer

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Facts / Headnote

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

Provisions invoked

• s. 15
• s. 15H
• s. 15I
• s. 15J

Regulations

• Reg. 3
• Reg. 3(a)
• Reg. 4(2)(a)
• Reg. 2(1)

Parties

• Jagdish Kumar Lalwani

Holding

The Noticee, Jagdish Kumar Lalwani, was held liable for violating Regulations 3(a), 4(1) and 4(2)(a) of the PFUTP Regulations, 2003 by engaging in non-genuine reversal trades in illiquid stock options on the BSE, and a penalty of Rs. 5,00,000/- was imposed under Section 15HA of the SEBI Act.

Full text

Adjudication Order in respect of Jagdish Kumar Lalwani in the matter of Dealing in Illiquid options on the BSE Page 2 of 13

Adjudication Order in respect of Jagdish Kumar Lalwani in the matter of Dealing in Illiquid options on the BSE Page 3 of 13

Adjudication Order in respect of Jagdish Kumar Lalwani in the matter of Dealing in Illiquid options on the BSE Page 4 of 13

Source: SecMarx — sebi:MC/DPS/2018-19/31. 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.