sebi:MC/DPS/2018-19/38

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

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

Facts / Headnote

Penalty imposed on 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 — 4(1)
SEBI (PFUTP) Regulations, 2003 — 4(2)(a)

Parties

Jai Laxmi Cement Co Pvt Ltd

Holding

The Noticee was found to have violated regulations 3(a), 4(1) and 4(2)(a) of the PFUTP Regulations, 2003 by executing non-genuine reversal trades in illiquid stock options, and a penalty of Rs. 5,00,000 was imposed under Section 15HA of the SEBI Act.

Full text

Adjudication Order in respect of Jai Laxmi Cement Co Pvt Ltd in the matter of Dealing in Illiquid options on the BSE Page 2 of 13

Adjudication Order in respect of Jai Laxmi Cement Co Pvt Ltd in the matter of Dealing in Illiquid options on the BSE Page 3 of 13

Adjudication Order in respect of Jai Laxmi Cement Co Pvt Ltd in the matter of Dealing in Illiquid options on the BSE Page 4 of 13

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Source: SecMarx — sebi:MC/DPS/2018-19/38. 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.