sebi:Order/JS/YK/2024-25/31841
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Facts / Headnote
Violation established; monetary penalty imposed ex-parte
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 15H
- s. 15J
- s. 28A
Regulations
- Reg. 4
- Reg. 3
- Reg. 3(a)
- Reg. 26
Parties
- Allo Roy
Holding
The Noticee (Allo Roy / Alloy Roy) violated regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations by executing non-genuine reversal trades in illiquid BSE stock options, and a monetary penalty of Rs. 5,00,000 under section 15HA of SEBI Act was imposed.
Full text
Adjudication Order in respect of Alloy Roy in the matter of dealings in Illiquid Stock Options on BSE Page 2 of 15 leading to creation of artificial volume in those contracts. In view of the same, such reversal trades were alleged to be deceptive and manipulative in nature.
Adjudication Order in respect of Alloy Roy in the matter of dealings in Illiquid Stock Options on BSE Page 3 of 15 provisions of regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the PFUTP Regulations.
Adjudication Order in respect of Alloy Roy in the matter of dealings in Illiquid Stock Options on BSE Page 4 of 15 11. Subsequently, a Post SCN Intimation (hereinafter referred to as “PSI”) dated March 06, 2024, was issued to the Noticee by erstwhile AO wherein it stated that SEBI had introduced another Settlement Scheme, i.e., SEBI Settlement Scheme, 2024 (hereinafter referred to as “Settlement Scheme 2024”) in terms of regulation 26 of Settlement Regulations. The applicable period of the said scheme was March 11, 2024 to May 10, 2024. Later, the applicable period of the Settlement Scheme 2024 was extended to June 10, 2024 by SEBI. However, the PSI dated March 06, 2024 issued through SPAD could not be delivered to the Noticee at her last known addresses and it returned undelivered with remarks that “No such person in the address”. It is observed that Noticee did not avail the Settlement Scheme 2024 and accordingly, the adjudication proceedings against the Noticee were resumed.
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Source: SecMarx — sebi:Order/JS/YK/2024-25/31841. 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.