sebi:Order/AK/DS/2026-27/32398
Facts / Headnote
Penalty imposed on the Noticee for violation of PFUTP Regulations
Provisions invoked
- s. 15
- s. 11B
- s. 11
- s. 15H
- s. 15J
Regulations relied on
- SEBI (PFUTP) Regulations, 2003 — 3(a)
- SEBI (PFUTP) Regulations, 2003 — 3(b)
- SEBI (PFUTP) Regulations, 2003 — 3(c)
- SEBI (PFUTP) Regulations, 2003 — 3(d)
- SEBI (PFUTP) Regulations, 2003 — 4(1)
- SEBI (PFUTP) Regulations, 2003 — 4(2)(a)
Parties
- Emblem Tradelink Private Limited
Holding
The Noticee, Emblem Tradelink Private Limited, was held to have violated Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the PFUTP Regulations by executing 4 non-genuine reversal trades in 1 stock options contract at BSE, generating artificial volume of 2,76,000 units, and a penalty of Rs 5,00,000 was imposed under Section 15HA of the SEBI Act, 1992.
Full text
Adjudication Order in respect of Emblem Tradelink Private Limited in the matter of Illiquid Stock Options at BSE Page 2 of 12
Adjudication Order in respect of Emblem Tradelink Private Limited in the matter of Illiquid Stock Options at BSE Page 3 of 12
Adjudication Order in respect of Emblem Tradelink Private Limited in the matter of Illiquid Stock Options at BSE Page 4 of 12
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Source: SecMarx — sebi:Order/AK/DS/2026-27/32398. 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.