sebi:Order/BM/GN/2023-24/28368

SEBI · SEBI · 2021-11-12 · Barnali Mukherjee, Adjudicating Officer

Reviewed by Varun Matlani, Advocate — Securities Lawyer practicing in SAT and SEBI

Facts / Headnote

Penalty imposed on the Noticee for violation of PFUTP Regulations, 2003

Provisions invoked

s. 11B
s. 11
s. 15
s. 19
s. 15H
s. 15J
s. 15F
s. 28A

Regulations relied on

SEBI (PFUTP) Regulations, 2003 — 3(a)

Parties

Pushpanjali Intrade Private Limited

Holding

The Noticee violated Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the PFUTP Regulations, 2003 by executing 30 non-genuine reversal trades in 7 stock options contracts at BSE, generating artificial volume of 1,224,500 units, and a penalty of ₹5,00,000 was imposed under Section 15HA of the SEBI Act, 1992.

Full text

Adjudication Order in respect of Pushpanjali Intrade Private Limited in the matter of trading in Illiquid Stock Options at BSE Page 2 of 18

Adjudication Order in respect of Pushpanjali Intrade Private Limited in the matter of trading in Illiquid Stock Options at BSE Page 3 of 18

Adjudication Order in respect of Pushpanjali Intrade Private Limited in the matter of trading in Illiquid Stock Options at BSE Page 4 of 18

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Source: SecMarx — sebi:Order/BM/GN/2023-24/28368. 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.