sebi:ORDER/VV/HS/2019-20/6189
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violation found; 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
- Chetna Satish Mehta
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 BSE stock options creating artificial volume. She 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 Chetna Satish Mehta . Page 2 of 19 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 Chetna Satish Mehta . Page 3 of 19 more opportunity of Hearing on November 25, 2019. The Noticee has failed to attend the said Hearing and vide e-mail dated November 26, 2019 the Noticee requested to provide another opportunity of Hearing.
Adjudication Order in respect of Chetna Satish Mehta . Page 4 of 19 time priority, which has happened in the instant case also. Hence, the allegation that my trade matched with same entity by design and not as per the trading mechanism is illogical, arbitrary and goes against the principles on which the electronic trading was started.
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Source: SecMarx — sebi:ORDER/VV/HS/2019-20/6189. 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.