sebi:Order/AK/DS/2026-27/32435
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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
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 3(a)
Parties
- Kavita Didwania
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 at BSE, 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 Kavita Didwania in the matter of Illiquid Stock Options at BSE Page 2 of 12 APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of Kavita Didwania in the matter of Illiquid Stock Options at BSE Page 3 of 12 make any submissions. Another opportunity of hearing was provided to the Noticee on July 06, 2023. However, the Noticee did not appear for the hearing or make any
Adjudication Order in respect of Kavita Didwania in the matter of Illiquid Stock Options at BSE Page 4 of 12 absence of response of the Noticee, presume that the allegations/charges have been admitted by her.
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Source: SecMarx — sebi:Order/AK/DS/2026-27/32435. 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.