sebi:Order/AS/RM/2025-26/31358
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Facts / Headnote
Violations established; monetary penalty of ₹10,00,000 imposed
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 3(a)
- Reg. 26
Parties
- Jet Air Agencies Private Limited
Holding
The Noticee, Jet Air Agencies Private Limited, was found to have violated Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the PFUTP Regulations by executing 32 non-genuine reversal trades in 14 illiquid stock option contracts on BSE, creating artificial volume of 18,59,750 units, and a monetary penalty of ₹10,00,000 was imposed under Section 15HA of the SEBI Act.
Full text
Adjudication Order in respect of Jet Air Agencies Private Limited in the matter of dealings in Illiquid Stock Options at BSE Page 2 of 24
Adjudication Order in respect of Jet Air Agencies Private Limited in the matter of dealings in Illiquid Stock Options at BSE Page 3 of 24
Adjudication Order in respect of Jet Air Agencies Private Limited in the matter of dealings in Illiquid Stock Options at BSE Page 4 of 24
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Source: SecMarx — sebi:Order/AS/RM/2025-26/31358. 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.