sebi:Order/GR/HK/2023-24/27929
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty of Rs. 5,00,000 imposed on the Noticee under Section 15HA of the SEBI Act, 1992, ex-parte
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
- Om Prakash Agarwal HUF
Holding
The Noticee 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, and a monetary penalty of Rs. 5,00,000 under Section 15HA of the SEBI Act, 1992 was imposed.
Full text
Adjudication Order in respect of Om Prakash Agarwal HUF in the matter of trading in Illiquid Stock Options at BSE 2 therefore were alleged to be manipulative, deceptive in nature. In view of the same, SEBI initiated adjudication proceedings against the Noticee for alleged violation of the provisions of Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003 (hereinafter referred to as ‘PFUTP Regulations, 2003’).
Adjudication Order in respect of Om Prakash Agarwal HUF in the matter of trading in Illiquid Stock Options at BSE 3 S. No. Contract Name Avg. Buy Rate (Rs) Total Buy Volume (No. of units) Avg. Sell Rate (Rs) Total Sell Volum e (No. of units) % of Non Genui ne trades of Notice e in the contra ct to Notice e's Total trades in the Contra ct % of Non Genui ne trades of Notice e in the contra ct to Total trades in the Contra ct % of Artificia l Volume generat ed by Noticee in the contrac t to Noticee' s Total Volume in the Contrac t % of Artificia l Volume generat ed by Noticee in the contrac t to Total Volume in the Contrac t 1 ADPW15AU G38.00PEW3 6.23 44000 9 44000 100 66.67 100 28.21 2 ALBK15AUG9 0.00PE 5.4 58000 8 58000 100 33.33 100 40.28 3 DISH14NOV7 0.00CEW3 0.05 76000 2.05 76000 100 14.29 100 16.1 4 GAIL15SEP27 0.00CEW2 11.95 12000 24.45 12000 100 50 100 75 5 SAIL14DEC75 .00PE 0.05 132000 1.28 13200 0 100 20 100 23.66 6 UNIT14SEP3 0.00CEW3 0.05 153000 1.05 15300 0 100 22.22 100 26.47
Adjudication Order in respect of Om Prakash Agarwal HUF in the matter of trading in Illiquid Stock Options at BSE 4 7. The SCN with reference no. SEBI/HO/EAD/EAD4/P/OW/2022/0000033873/1 dated 03.08.2022 was served upon the Noticee via digitally signed email. The aforesaid SCN indicated the nature of offence alleged to have been committed by the Noticee and also intimated to the Noticee regarding the SEBI Settlement Scheme, 2022. The intimation regarding settlement scheme given to the Noticee is as follows: 7.1. SEBI has framed the SEBI Settlement Scheme, 2022 pursuant to the
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:Order/GR/HK/2023-24/27929. 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.