sebi:Order/AK/JS/2021-22/15364
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Facts / Headnote
Adjudication proceedings disposed of; no violation established; no penalty imposed
Provisions invoked
- s. 15H
- s. 15I
- s. 15J
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Arun Kumar Sinha
Holding
The Adjudicating Officer held that Arun Kumar Sinha had not violated Regulations 3(a), (b), (c) and (d) and 4(1) and 4(2)(a) of the PFUTP Regulations, 2003 and disposed of the adjudication proceedings initiated vide SCN dated November 29, 2021 without imposing penalty.
Full text
Page 2 of 8 Adjudication Order in respect of Arun Kumar Sinha in the matter of Illiquid Stock Options at BSE Kumar Sinha (hereinafter referred to as the “Noticee”) was one of the various entities which indulged in execution of reversal trades in stock options segment of BSE during the Investigation Period. In view of the same, SEBI initiated adjudication proceedings against the Noticee for violation of the provisions of Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 (hereinafter referred to as “PFUTP Regulations”).
Page 3 of 8 Adjudication Order in respect of Arun Kumar Sinha in the matter of Illiquid Stock Options at BSE 6. The SCN dated November 29, 2021 issued to the Noticee was sent via Speed Post Acknowledgement Due (‘SPAD’) and via email dated November 29, 2021 at the email provided by the Noticee in his KYC application i.e. sinha.sinha60@gmail.com.
Page 4 of 8 Adjudication Order in respect of Arun Kumar Sinha in the matter of Illiquid Stock Options at BSE stated that it happened at that time and now the matter is over. I am very sorry for whatever has happened out of my ignorance.
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Source: SecMarx — sebi:Order/AK/JS/2021-22/15364. 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.