sebi:Order/AK/AJ/2023-24/27445
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Facts / Headnote
Violation found; penalty of Rs 5,00,000 imposed under Section 15HA of SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 28A
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 4(2)
- Reg. 3(a)
- Reg. 26
- Reg. 2(1)(c)(2)
- Reg. 2(1)(c)(7)
- Reg. 2(1)(c)(8)
Parties
- Vinay Madhukar Chavan
Holding
The Noticee violated Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the PFUTP Regulations by executing non-genuine reversal trades in illiquid stock options and is liable to a penalty of Rs 5,00,000 under Section 15HA of the SEBI Act.
Full text
Adjudication Order in respect of Vinay Madhukar Chavan in the matter of dealings in Illiquid Stock Options at BSE Page 2 of 14
Adjudication Order in respect of Vinay Madhukar Chavan in the matter of dealings in Illiquid Stock Options at BSE Page 3 of 14
Adjudication Order in respect of Vinay Madhukar Chavan in the matter of dealings in Illiquid Stock Options at BSE Page 4 of 14
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Source: SecMarx — sebi:Order/AK/AJ/2023-24/27445. 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.