sebi:ORDER/VV/HS/2020-21/8085
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Ex-parte adjudication; Noticee found in violation of PFUTP Regulations and liable to penalty 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
- Blue Bull Equities Private Limited
Holding
The Noticee, Blue Bull Equities Private Limited, violated Regulation 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 on BSE, creating artificial volume of 1,51,34,000 units across 233 stock options contracts, and is liable for monetary penalty under Section 15HA of the SEBI Act.
Full text
Adjudication Order in respect of Blue Bull Equities Private Limited Page 2 of 24 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 Blue Bull Equities Private Limited Page 3 of 24 5. Further, in the interest of natural justice and in order to conduct inquiry as per Rule 4 of the Adjudication Rules, vide the said E-mail dated March 04, 2020, the Noticee was also provided an opportunity of the personal hearing on March 23,
Adjudication Order in respect of Blue Bull Equities Private Limited Page 4 of 24 provided to the Noticee to refute the charges levelled against the Noticee. Therefore, I am inclined to decide the matter ex-parte taking into account the evidence / material available on record.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:ORDER/VV/HS/2020-21/8085. 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.