sebi:Order/AK/GN/2025-26/31987
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Facts / Headnote
Violation established; monetary penalty imposed ex-parte
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
- Amita Bhalla
Holding
The Noticee violated Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations, 2003 by executing 4 non-genuine reversal trades in 2 stock option contracts creating artificial volume, and a monetary penalty of Rs. 5,00,000 under Section 15HA of SEBI Act, 1992 was imposed.
Full text
Adjudication Order in respect of Amita Bhalla in the matter of Illiquid Stock Options Page 2 of 16 APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of Amita Bhalla in the matter of Illiquid Stock Options Page 3 of 16 “17. We are, thus, of the opinion that SEBI should reconsider and seriously give a thought in coming out with a fresh scheme under Clause 26 of the Settlement Regulations, 2018. Such scheme can be a onetime scheme for this class of person. The terms of settlement should be attractive so that it could attract the noticees / entities to come forward and settle the matter which will ameliorate the harassment of penalty proceedings to the noticees and at the same time would help to clear the backlog of these pending matters before various AOs.” (Emphasis Supplied).
Adjudication Order in respect of Amita Bhalla in the matter of Illiquid Stock Options Page 4 of 16 6. In case you do not wish to avail of the facility under the SEBI Settlement Scheme, 2022, the adjudication proceedings in respect of the allegations contained in Part A of the SCN shall resume. Accordingly, an inquiry shall be held against you in terms of Adjudication Rules read with section 15-I of the SEBI Act, and penalty, if any, shall be imposed under section 15HA of the SEBI Act. In such case, you are called upon to file your reply within 30 days of receipt of this Show Cause Notice.”
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Source: SecMarx — sebi:Order/AK/GN/2025-26/31987. 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.