sebi:Order/JS/RJ/2025-26/31845
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Facts / Headnote
Abated - adjudication proceedings against the deceased Noticee dropped without going into merits; SCN dated July 23, 2021 disposed of accordingly
Provisions invoked
- s. 15
- s. 15H
Regulations
- Reg. 3(a)
- Reg. 26
Parties
- Rajendra Kumar Garg
Holding
The adjudication proceedings against Rajendra Kumar Garg were abated without going into the merits of the case qua him and the Show Cause Notice dated July 23, 2021 issued against him was disposed of accordingly, as the Noticee had expired on June 04, 2020.
Full text
Adjudication Order in respect of Rajendra Kumar Garg in the matter of dealings in Illiquid Stock Options at BSE Page 2 of 4 to as the “Noticee”) was one of the entities who indulged in execution of reversal trades in stock options segment of BSE during the IP. His trades were alleged to be non- genuine in nature which created false or misleading appearance of trading in terms of artificial volumes in stock options. Therefore, his trades were alleged to be manipulative and deceptive in nature. In view of the same, SEBI initiated adjudication proceedings against the Noticee for alleged violation of the provisions of regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003 (hereinafter referred to as “PFUTP Regulations”).
Adjudication Order in respect of Rajendra Kumar Garg in the matter of dealings in Illiquid Stock Options at BSE Page 3 of 4 initiated and appeals against the said proceedings were pending. The scheme commenced from August 22, 2022 and remained open for a period of 3 months. Later, the applicable period of the Settlement Scheme 2022 was extended to January 21, 2023 by SEBI.
Adjudication Order in respect of Rajendra Kumar Garg in the matter of dealings in Illiquid Stock Options at BSE Page 4 of 4
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Source: SecMarx — sebi:Order/JS/RJ/2025-26/31845. 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.