sebi:Order/JS/DP/2025-26/32005-32011
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Facts / Headnote
Violation established; monetary penalties imposed on seven Noticees under section 15HA of SEBI Act
Provisions invoked
- s. 15
- s. 19
- s. 12A
- s. 15H
- s. 15J
- s. 24
- s. 23
- s. 15I(1)
- s. 34
- s. 120B
Regulations
- Reg. 3
- Reg. 4(1)
- Reg. 3(a)
Parties
- MVM Securities Private Limited
- MVM Commodities Private Limited
- Govinda Share & Securities Pvt. Ltd.
- Navin Textile Marketing Private Limited
- Sureshkumar Khimajibhai Doshi
- Epoch Synthetics Pvt. Ltd.
- Trinetra Company Pvt. Ltd.
Holding
The Adjudicating Officer held that the seven Noticees executed circular three-way reversal trades in illiquid NSE stock options that were non-genuine and created misleading appearance of trading, violating sections 12A(a),(b),(c) of SEBI Act read with regulations 3(a),(b),(c),(d) and 4(1), 4(2)(a) and (n) of PFUTP Regulations, and imposed aggregate monetary penalties of Rs.1.89 crore.
Full text
Adjudication Order in the matter of execution of three-way reversals by certain entities in Illiquid Stock Options segment contract on NSE Page 2 of 84
Adjudication Order in the matter of execution of three-way reversals by certain entities in Illiquid Stock Options segment contract on NSE Page 3 of 84
Adjudication Order in the matter of execution of three-way reversals by certain entities in Illiquid Stock Options segment contract on NSE Page 4 of 84 Sr. No. Name of the entities PAN 1 Benison Stock Broking Pvt. Ltd. AADCB4930E 2 MVM Securities Private Limited AAECM3551F 3 MVM Commodities Pvt. Ltd. AAFCM6435K 4 Govinda Share & Secu Pvt. Ltd. AADCG6788P 5 Navin Textile Marketing Pvt. Ltd. AADCN0524A 6 Sureshkumar Khimajibhai Doshi ABOPD5658G 7 Epoch Synthetics Pvt. Ltd. AAACE5684M 8 Ruchi Gupta ADSPR0410Q 9 Tower Research Capital Markets India Pvt. Ltd. AARCS1742B 10 Trinetra Com. Pvt. Ltd. AABCT0810F 11 Kedia Fintrade Private Limited AAHCK8381L
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