sebi:ORDER/VKV/HKS/2019-20/5700
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Facts / Headnote
Violation established; penalty of Rs.5,00,000 imposed under Section 15HA of the SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 4
- Reg. 3
- Reg. 2
- Reg. 3(a)
Parties
- Delta International Limited
Holding
The Noticee violated Regulations 3(a), (b), (c), (d) and 4(1), 4(2)(a) of the PFUTP Regulations by executing non-genuine reversal trades in illiquid stock options at BSE creating artificial volume and false appearance of trading, and is liable to monetary penalty under Section 15HA of the SEBI Act, with penalty imposed of Rs.5,00,000.
Full text
Adjudication Order in respect of Delta International Limited. Page 2 of 20 1992, (hereinafter referred to as “SEBI Act”) read with Section 15-I (1) of the SEBI Act and Rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter referred to as “Adjudication Rules”) to conduct adjudication proceedings inter-alia in respect of the Noticee, in the manner specified under Rule 4 of the Adjudication Rules read with Section 15-I (1) and (2) of the SEBI Act, and if satisfied that penalty is liable, to impose such
Adjudication Order in respect of Delta International Limited. Page 3 of 20 6. Consequently, the Noticee, vide its letter dated June 08, 2019, filed its reply to the SCN but did not appear for the Hearing. The relevant excerpts of the aforesaid reply of the Noticee are inter-alia reproduced hereunder.
Adjudication Order in respect of Delta International Limited. Page 4 of 20 ownership and hence there is no creation of artificial or reversal trade in option segment.
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Source: SecMarx — sebi:ORDER/VKV/HKS/2019-20/5700. 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.