sebi:Order/JS/DJ/2018-19/1762
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violation of Regulations 3(a),(b),(c),(d), 4(1), 4(2)(a) of PFUTP Regulations 2003 established; monetary penalty of Rs.5,00,000 imposed under Section 15HA of SEBI Act
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 15F
- s. 15I(1)
Regulations
- Reg. 4
- Reg. 3
- Reg. 200
- Reg. 3(a)
- Reg. 3(a)(b)(c)
Parties
- Bina Udyog Private Limited
Holding
The Noticee violated Regulations 3(a),(b),(c),(d), 4(1) and 4(2)(a) of the PFUTP Regulations 2003 by executing 54 non-genuine reversal trades in 23 illiquid stock option contracts at BSE creating artificial volume of 16316000 units, and is liable to monetary penalty under Section 15HA of the SEBI Act, with penalty of Rs.5,00,000 imposed.
Full text
Adjudication Order in resp. of Bina Udyog Pvt Ltd in the matter of dealing in illiquid Stock Options at BSE || Page 2 of 10
Adjudication Order in resp. of Bina Udyog Pvt Ltd in the matter of dealing in illiquid Stock Options at BSE || Page 3 of 10
Adjudication Order in resp. of Bina Udyog Pvt Ltd in the matter of dealing in illiquid Stock Options at BSE || Page 4 of 10
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Source: SecMarx — sebi:Order/JS/DJ/2018-19/1762. 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.