sebi:Order/KS/PP/2021-22/11998
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Facts / Headnote
Violation established; penalty imposed
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 3
- Reg. 6
- Reg. 3(a)
Parties
- Sanjay Gupta
Holding
The Noticee violated Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations, 2003 by executing 14 non-genuine reversal trades in 2 BSE stock option contracts creating artificial volume, and a penalty of Rs. 5,00,000 under Section 15HA of the SEBI Act, 1992 was imposed on Sanjay Gupta.
Full text
Page 2 of 20 deceptive in nature. In view of the same, SEBI initiated adjudication proceedings against the Noticee for 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, 2003”).
Page 3 of 20 S. No. Contract Name Avg. Buy Rate (Rs.) Total Buy Volume (No. of units) Avg. Sell Rate Total Sell Volume (No. of units) % of Non Genuine trades of Noticee in the contract to Noticee's Total trades in the Contract % of Non Genuine trades of Noticee in the contract to Total trades in the Contrac t % of Artificial Volume generated by Noticee in the contract to Noticee's Total Volume in the Contract % of Artificial Volume generat ed by Noticee in the contract to Total Volume in the Contrac t 1 CESC15MAR500.00CE 94.53 333000 62.25 333000 100% 28% 100% 50% 2 CESC15MAR640.00PE 56.07 200000 30.00 200000 100% 14% 100% 17%
Page 4 of 20 been relied upon in the matter, shall be provided. Further, Noticee was advised to address further communication, in this regards to Enforcement Department of SEBI (EFD). Vide letter dated October 25, 2018, Noticee informed that he had filed Settlement Application under SEBI (Settlement of Administrative and Civil Proceedings),
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Source: SecMarx — sebi:Order/KS/PP/2021-22/11998. 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.