sebi:ORDER/VV/HS/2019-20/5941
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Facts / Headnote
Penalty of Rs.5,00,000 imposed on the Noticee for violation of PFUTP Regulations
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 4
- Reg. 3
- Reg. 2(1)(c)
- Reg. 2
Parties
- Brubeck Resources Private 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 creating artificial volume in illiquid BSE stock options, and is liable to a monetary penalty of Rs.5,00,000 under Section 15HA of the SEBI Act.
Full text
Adjudication Order in respect of Brubeck Resources Private 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 Brubeck Resources Private Limited. Page 3 of 20 levelled in the SCN. Failure to provide such complete materials / documents to the Noticee is in violation of and is contrary to the settled principals of natural justice.
Adjudication Order in respect of Brubeck Resources Private Limited. Page 4 of 20 6. It is submitted that the trades carried out by the Noticee in the BSE Stock Options Segment were it in the normal course of business devoid of any fraudulent intentions.
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Source: SecMarx — sebi:ORDER/VV/HS/2019-20/5941. 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.