sebi:ORDER/JJ/MG/2022-2023/15814
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Facts / Headnote
Penalty imposed on the Noticee for violation of PFUTP Regulations
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 4
- Reg. 4(1)
- Reg. 3(a)
Parties
- Anjana Goenka
Holding
The Noticee was found to have violated Regulation 3(a), 3(b) and Regulation 4(1), 4(2)(a) of the PFUTP Regulations, 2003 by engaging in a non-genuine reversal trade that created artificial trading volume, and a penalty of Rs.5,00,000 was imposed under Section 15HA of the SEBI Act, 1992.
Full text
Page 2 of 18 value of the transactions. The aforesaid reversal trade allegedly resulted into generation of artificial volumes by the aforesaid clients and counterparties, leading to allegations that the Noticee had violated Regulation 3 (a), (b), (c), (d) and Regulation 4 (1), 4(2) (a) of SEBI (Prohibition of Fraudulent and Unfair Trading Practices relating to Securities Market) Regulations, 2003 (hereinafter referred to as “PFUTP Regulations”).
Page 3 of 18 the Investigation Period. b) The Noticee is alleged to have engaged in 1 such reversal trade in 1 unique contract, which led to generation of alleged artificial volume of 20,000 units on July 28, 2015.
Page 4 of 18 6. From the trades executed by the Noticee in the contract of “BHRT15JUL460.00PE”, it is observed that: a) While dealing in the said contract on 28/07/2015, at 13:06:18:27 hrs. the Noticee entered into a buy trade with counterparty N M Impex Private Limited for 10,000 units at Rs. 27.00 per unit, which was reversed by a sell trade at 13:17:05:94 hrs with the same counterparty for 10,000 units at Rs. 46.90 per unit.
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Source: SecMarx — sebi:ORDER/JJ/MG/2022-2023/15814. 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.