sebi:Order/BM/UR/2023-24/25720
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violation established; penalty of Rs 5,00,000 imposed under Section 15HA
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
- Narottam Commercial Private Limited
Holding
The Noticee violated Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations, 2003 by executing 10 non-genuine reversal trades in 4 illiquid stock option contracts resulting in artificial volume of 1072000 units. A monetary penalty of Rs 5,00,000 under Section 15HA of the SEBI Act, 1992 was imposed on Narottam Commercial Private Limited.
Full text
Adjudication Order in respect of Narottam Commercial Private Limited in the matter of trading in Illiquid Stock Options at BSE
Adjudication Order in respect of Narottam Commercial Private Limited in the matter of trading in Illiquid Stock Options at BSE
Adjudication Order in respect of Narottam Commercial Private Limited in the matter of trading in Illiquid Stock Options at BSE
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Source: SecMarx — sebi:Order/BM/UR/2023-24/25720. 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.