sebi:Order/AK/GN/2025-26/31384
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Facts / Headnote
Penalty imposed on Noticee for violation of PFUTP Regulations
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 15H
- s. 15J
- s. 28A
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 3(a)
- Reg. 26
Parties
- Nitya Jain
Holding
The Noticee Nitya Jain violated Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the PFUTP Regulations, 2003 by executing non-genuine reversal trades in illiquid stock options at BSE, and a penalty of ₹5,00,000 was imposed under Section 15HA of the SEBI Act, 1992.
Full text
Adjudication Order in respect of Nitya Jain in the matter of trading in Illiquid Stock Options at BSE Page 2 of 18 APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of Nitya Jain in the matter of trading in Illiquid Stock Options at BSE Page 3 of 18 2 DRRL15A R3450.00CE 94.25 8000 115 8000 100 6.67 100 3.95
Adjudication Order in respect of Nitya Jain in the matter of trading in Illiquid Stock Options at BSE Page 4 of 18 3. In compliance with the above directions of the Hon’ble Securities Appellate Tribunal, SEBI has introduced a one-time settlement scheme called the SEBI Settlement Scheme, 2022, in terms of Regulation 26 of the Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018 in the matter of Illiquid Stock Options. The said scheme proposes payment of Settlement Amount as per the details given below:
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Source: SecMarx — sebi:Order/AK/GN/2025-26/31384. 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.