sebi:Order/JS/RJ/2025-26/32111
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Facts / Headnote
Adjudication proceedings abated; SCN dated August 10, 2022 disposed of
Provisions invoked
- s. 15
- s. 15H
Regulations
- Reg. 3(a)
- Reg. 26
Parties
- Ramgopal Agarwal
Holding
The adjudication proceedings against the Noticee, Ramgopal Agarwal, are abated on account of his death on September 17, 2020, without going into the merits of the case, and the SCN dated August 10, 2022 issued against him is disposed of accordingly.
Full text
Adjudication Order in respect of Ramgopal Agarwal in the matter of dealings in Illiquid Stock Options on BSE Page 2 of 4 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 Ramgopal Agarwal in the matter of dealings in Illiquid Stock Options on BSE Page 3 of 4 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 Ramgopal Agarwal in the matter of dealings in Illiquid Stock Options on BSE Page 4 of 4 fitness of things to decide as to whether on the death of the Noticee, the present adjudication proceedings against the Noticee would continue.
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Source: SecMarx — sebi:Order/JS/RJ/2025-26/32111. 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.