sebi:Order/AP/SK/2020-21/7965
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 engaging in non-genuine reversal trades in illiquid stock options contracts at BSE
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 28A
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 3(a)
Parties
- Ashlar Securities Private Limited
Holding
The Noticee was found to have indulged in 1624 non-genuine reversal trades across 489 illiquid stock option contracts on BSE, creating artificial volume and a misleading appearance of trading, in violation of the PFUTP Regulations, and a monetary penalty of ₹71,00,000 was imposed under Section 15HA of the SEBI Act.
Full text
__________________________________________________________________________________________ Adjudication Order in respect of Ashlar Securities Private Limited in the matter of Illiquid Stock Option at BSE Page 2 of 33
__________________________________________________________________________________________ Adjudication Order in respect of Ashlar Securities Private Limited in the matter of Illiquid Stock Option at BSE Page 3 of 33
__________________________________________________________________________________________ Adjudication Order in respect of Ashlar Securities Private Limited in the matter of Illiquid Stock Option at BSE Page 4 of 33
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Source: SecMarx — sebi:Order/AP/SK/2020-21/7965. 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.