sebi:Order/AK/RK/2025-26/31844
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Facts / Headnote
Penalty of Rs 5,00,000 imposed under Section 15HA of the SEBI Act
Provisions invoked
- s. 15
- s. 11B
- s. 11
- s. 15H
- s. 15J
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 3(a)
- Reg. 26
Parties
- Vikash Chirimar
Holding
The Noticee executed 17 non-genuine reversal trades in 2 illiquid stock option contracts in violation of Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the PFUTP Regulations and is liable to a monetary penalty of Rs 5,00,000 under Section 15HA of the SEBI Act.
Full text
Adjudication Order in respect of Vikash Chirimar in the matter of Illiquid Stock Options at BSE Page 2 of 14 APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of Vikash Chirimar in the matter of Illiquid Stock Options at BSE Page 3 of 14 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 Vikash Chirimar in the matter of Illiquid Stock Options at BSE Page 4 of 14 8. Pursuant to the above, vide public notice dated November 21, 2022, it was advertised/ informed that “Considering the interest of entities in availing the Scheme, the competent authority has extended the period of the Scheme till January 21, 2023””
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Source: SecMarx — sebi:Order/AK/RK/2025-26/31844. 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.