sebi:Order/JS/CM/2019-20/3779
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Facts / Headnote
Violation established; monetary penalty of Rs. 5,00,000 imposed under Section 15HA of SEBI Act for violation of Regulations 3(a), 4(1) and 4(2)(a) of PFUTP Regulations, 2003
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 15F
- s. 15I(1)
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 200
- Reg. 4(1)
- Reg. 4(2)(a)
- Reg. 3(a)
- Reg. 3(b)
- Reg. 28(2)
- Reg. 3(d)
- Reg. 3(c)
Parties
- Dhan Stock and Share Brokers Private Limited
Holding
The Noticee was held liable for executing 52 non-genuine reversal trades in 18 stock option contracts at BSE, creating artificial volume of 7,097,000 units, in violation of Regulations 3(a), 4(1) and 4(2)(a) of the PFUTP Regulations, 2003, and a monetary penalty of Rs. 5,00,000 was imposed under Section 15HA of the SEBI Act.
Full text
Adjudication Order in respect of Dhan Stock & Share Brokers Pvt Ltd in the matter of dealing in illiquid Stock Options at BSE Page 2 of 27
Adjudication Order in respect of Dhan Stock & Share Brokers Pvt Ltd in the matter of dealing in illiquid Stock Options at BSE Page 3 of 27
Adjudication Order in respect of Dhan Stock & Share Brokers Pvt Ltd in the matter of dealing in illiquid Stock Options at BSE Page 4 of 27 31.03.2018 Financial year ended. 03.04.2018 Executive Director, SEBI appointed Mr. Jeevan Sonparote as Adjudicating Officer (Reference found in order communicating Appointment of AO in order dated 29.05.2018 of Ms. Bhavana Ravi Kumar (Annexure-A) to SCN dated 22.02.2019.) 05.04.2018* WTM's order against 59 entities disposing all proceedings initiated vide order dated 20.08.2015 - SEBI appointed Adjudicating Officers to enquire into alleged irregularities in illiquid options trading on BSE against 14,720 entities - in Phase I, against 567 entities. 29.05.2018
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Source: SecMarx — sebi:Order/JS/CM/2019-20/3779. 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.