sebi:Order/GR/PU/2022-23/24850
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Facts / Headnote
Proceedings abated; Show Cause Notice disposed of
Provisions invoked
- s. 15
- s. 19
- s. 15H
Regulations
- Reg. 4(1)
- Reg. 3(a)
Parties
- Shri Indar Chand Shyamsukha
Holding
The Adjudication Proceedings initiated against the Noticee are abated without going into the merits of the case, and the Show Cause Notice dated August 04, 2022 issued against him is disposed of accordingly.
Full text
Adjudication Order in respect of Shri Indar Chand Shyamsukha in the matter of dealings in ISO at the BSE Page 2 of 5 ii. It was observed during the course of investigation that a total of 2,91,643 trades comprising 81.38% of all the trades executed in the stock options segment at BSE during the investigation period were trades which involved reversal of buy and sell positions by the clients and counterparties in a contract on the same day. It was also observed that the aforesaid trades resulted into creation of artificial volume to the tune of 826.21 Crore units or 54.68% of the total market volume in stock options segment of BSE during the investigation period.
Adjudication Order in respect of Shri Indar Chand Shyamsukha in the matter of dealings in ISO at the BSE Page 3 of 5 3(a), (b), (c), (d) and Regulation 4(1), 4(2) (a) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Markets) Regulations, 2003 (here in after referred to as “PFUTP Regulations”). In view of the above, adjudication proceedings have been initiated against the Noticee under the provisions of Section 15 HA of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as ‘SEBI Act’).
Adjudication Order in respect of Shri Indar Chand Shyamsukha in the matter of dealings in ISO at the BSE Page 4 of 5 SHOW CAUSE NOTICE, REPLY AND HEARING
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Source: SecMarx — sebi:Order/GR/PU/2022-23/24850. 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.