sebi:Order/AK/RK/2025-26/32331
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
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)
- Reg. 26
Parties
- Saffire Exports And Agency Private Limited
Holding
The Noticee violated Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the PFUTP Regulations by executing 36 non-genuine reversal trades in 7 stock options contracts at BSE, generating artificial volume of 33,48,000 units, and a penalty of Rs 5,00,000 was imposed under Section 15HA of the SEBI Act.
Full text
Adjudication Order in respect of Saffire Exports And Agency Private Limited in the matter of Illiquid Stock Options on BSE Page 2 of 15
Adjudication Order in respect of Saffire Exports And Agency Private Limited in the matter of Illiquid Stock Options on BSE Page 3 of 15
Adjudication Order in respect of Saffire Exports And Agency Private Limited in the matter of Illiquid Stock Options on BSE Page 4 of 15
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Source: SecMarx — sebi:Order/AK/RK/2025-26/32331. 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.