sebi:Order/AP/VS/2021-22/11596
Facts / Headnote
Penalty imposed; violations of PFUTP Regulations 3(a),(b),(c),(d), 4(1) and 4(2)(a) held established
Provisions invoked
- s. 15
- s. 15H
- s. 15I
- s. 15J
- s. 28A
Regulations relied on
- SEBI (PFUTP) Regulations, 2003 — 3(a)
- SEBI (PFUTP) Regulations, 2003 — 3(b)
- SEBI (PFUTP) Regulations, 2003 — 3(c)
- SEBI (PFUTP) Regulations, 2003 — 3(d)
- SEBI (PFUTP) Regulations, 2003 — 4(1)
- SEBI (PFUTP) Regulations, 2003 — 4(2)(a)
Parties
- Anushreya Investments Private Limited
Holding
The Noticee, Anushreya Investments Private Limited, was held liable for violating regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the PFUTP Regulations by executing non-genuine reversal trades in 13 illiquid stock option contracts on BSE, and a monetary penalty of ₹5,00,000 was imposed under Section 15HA of the SEBI Act.
Full text
_______________________________________________________________________________ Adjudication order in respect of Anushreya Investments Private Limited in the matter of Illiquid Stock Options at BSE Page 2 of 12 further alleged that the Noticee, by executing non genuine trades during the relevant period, registered a negative close out difference of ₹1,16,50,603. The trades entered by the Noticee were reversed on the same day within a very short span of time with same counterparty at a substantial price difference without any basis for significant change in the contract price which indicates that these trades are artificial and are non-genuine in nature. The summary of dealings of Noticee in such 13 Unique Stock Options contracts is as follows:
_______________________________________________________________________________ Adjudication order in respect of Anushreya Investments Private Limited in the matter of Illiquid Stock Options at BSE Page 3 of 12
_______________________________________________________________________________ Adjudication order in respect of Anushreya Investments Private Limited in the matter of Illiquid Stock Options at BSE Page 4 of 12
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