sebi:ORDER/VV/AS/2021-22/14758
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Proceedings disposed of as not maintainable against the Noticee
Provisions invoked
- s. 15H
- s. 15I
- s. 560
Regulations
- Reg. 3(a)
Parties
- Shreeji Investment and Finance Company Private Limited
Holding
The adjudication proceedings against Shreeji Investment and Finance Company Private Limited were disposed of as not maintainable because the Noticee had already been struck off and dissolved by the Registrar of Companies.
Full text
______________________________________________________________________________________ Adjudication Order in respect of Shreeji Investment and Finance Company Private Limited in the matter of dealing in Illiquid Stock Options at BSE. Page 2 of 3
______________________________________________________________________________________ Adjudication Order in respect of Shreeji Investment and Finance Company Private Limited in the matter of dealing in Illiquid Stock Options at BSE. Page 3 of 3
b) Number of trades of the Noticee, which are alleged to be non-genuine, have contributed significantly when compared with the total number of trades from the market in the above contracts. The alleged non genuine trades of the Noticee ranged from 16.67% to 100% of the total trades that had taken place in the aforementioned contracts. c) The whole volume of 10,24,000 units generated by the Noticee in the said contracts due to its alleged non genuine trades was artificial volume, and further this alleged artificial volume, generated by the Noticee, also contributed significantly to the extent of 8.80% to 100% of the total volume in said contracts in the market. d) These alleged non genuine trades, executed by the Noticee in said contracts, had significant differential in buy rates and sell rates considering that the trades were reversed within few seconds on same day. The Noticee has allegedly engaged in the non-genuine transactions in the option segment of BSE for the purpose of creating false appearance of trading.
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Source: SecMarx — sebi:ORDER/VV/AS/2021-22/14758. 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.