sebi:Order/BM/GN/2023-24/28585
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Facts / Headnote
Violation of PFUTP Regulations established; monetary penalty held imposable under Section 15HA of SEBI Act, 1992
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 3
- Reg. 4(1)
- Reg. 3(a)
- Reg. 26
Parties
- Gharana Distributors Private Limited
Holding
The Adjudicating Officer held that Gharana Distributors Private Limited executed non-genuine reversal trades in the illiquid BSE stock option contract ENGI15MAR190.00CEW2 in violation of Regulations 3(a), (b), (c) and (d) and 4(1) and 4(2)(a) of the PFUTP Regulations, 2003 and is liable to monetary penalty under Section 15HA of the SEBI Act, 1992.
Full text
Adjudication Order in respect of Gharana Distributors Private Limited in the matter of trading in Illiquid Stock Options at BSE Page 2 of 20
Adjudication Order in respect of Gharana Distributors Private Limited in the matter of trading in Illiquid Stock Options at BSE Page 3 of 20
Adjudication Order in respect of Gharana Distributors Private Limited in the matter of trading in Illiquid Stock Options at BSE Page 4 of 20
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Source: SecMarx — sebi:Order/BM/GN/2023-24/28585. 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.