sebi:Order/JS/DJ/2018-19/2010

SEBI · SEBI · 2018-10-15 · Jeevan Sonparote, Adjudicating Officer

Reviewed by Varun Matlani, Advocate — Securities Lawyer practicing in SAT and SEBI

Facts / Headnote

Violation established; monetary penalty imposed

Provisions invoked

s. 15
s. 19
s. 15H
s. 15J
s. 15F
s. 15I(1)

Regulations relied on

SEBI (PFUTP) Regulations, 2003 — 3(a)
SEBI (PFUTP) Regulations, 2003 — 3(b)
SEBI (PFUTP) Regulations, 2003 — 3(c)
SEBI (PFUTP) Regulations, 2003 — 3(d)
SEBI (PFUTP) Regulations, 2003 — 4(1)
SEBI (PFUTP) Regulations, 2003 — 4(2)(a)

Parties

Bhavsagar Vyapaar Pvt Ltd

Holding

Noticee executed 34 non-genuine reversal trades in 7 illiquid stock option contracts at BSE creating artificial volume of 3512000 units, violating Regulations 3(a),(b),(c),(d), 4(1) and 4(2)(a) of PFUTP Regulations 2003, and is liable to Rs. 5,00,000 penalty under Section 15HA of SEBI Act.

Full text

Adjudication Order in resp. of Bhavsagar Vyapaar Pvt Ltd in the matter of dealing in illiquid Stock Options at BSE ||Page 2 of 11

Adjudication Order in resp. of Bhavsagar Vyapaar Pvt Ltd in the matter of dealing in illiquid Stock Options at BSE ||Page 3 of 11

Adjudication Order in resp. of Bhavsagar Vyapaar Pvt Ltd in the matter of dealing in illiquid Stock Options at BSE ||Page 4 of 11

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Source: SecMarx — sebi:Order/JS/DJ/2018-19/2010. 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.