sebi:Order/BM/GN/2023-24/28941
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Facts / Headnote
Violation established; penalty of ₹5,00,000 imposed under section 15HA of the SEBI Act, 1992
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
- Nareshbhai Gordhanbhai Panchal
Holding
The Noticee violated Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the PFUTP Regulations, 2003 by executing 12 non-genuine reversal trades in 6 stock options contracts at BSE, generating artificial volume of 138,000 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 Nareshbhai Gordhanbhai Panchal in the matter of trading in Illiquid Stock Options at BSE Page 2 of 16
Adjudication Order in respect of Nareshbhai Gordhanbhai Panchal in the matter of trading in Illiquid Stock Options at BSE Page 3 of 16
Adjudication Order in respect of Nareshbhai Gordhanbhai Panchal in the matter of trading in Illiquid Stock Options at BSE Page 4 of 16
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