sebi:Order/BM/RK/2024-25/31057
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Facts / Headnote
Penalty imposed on the Noticee for violation of PFUTP Regulations, 2003
Provisions invoked
- s. 15
- s. 19
- s. 11B
- s. 11
- s. 15H
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 3(a)
- Reg. 26
Parties
- Sumitra Devi
Holding
The Noticee Sumitra Devi was found to have violated Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the PFUTP Regulations, 2003 by executing non-genuine reversal trades in illiquid stock options at BSE, and a penalty of Rs. 5,00,000 was imposed under Section 15HA of the SEBI Act, 1992.
Full text
Adjudication Order in respect of Sumitra Devi in the matter of trading in Illiquid Stock Options at BSE Page 2 of 17 APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in respect of Sumitra Devi in the matter of trading in Illiquid Stock Options at BSE Page 3 of 17 6. From the above table, following was noted as regard to dealings of the Noticee:
Adjudication Order in respect of Sumitra Devi in the matter of trading in Illiquid Stock Options at BSE Page 4 of 17 3. In compliance with the above directions of the Hon’ble Securities Appellate Tribunal, SEBI has introduced a one-time settlement scheme called the SEBI Settlement Scheme, 2022, in terms of Regulation 26 of the Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018 in the matter of Illiquid Stock Options. The said scheme proposes payment of Settlement Amount as per the details given below:
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Source: SecMarx — sebi:Order/BM/RK/2024-25/31057. 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.