sebi:Order/MA/AS/2021-22/15505

SEBI · SEBI · 2021-06-28 · Mohammad Atif Alvi, Adjudicating Officer

Reviewed by Varun Matlani, Advocate — Securities Lawyer practicing in SAT and SEBI

Facts / Headnote

Violation established; Noticee held liable under PFUTP Regulations for non-genuine trades

Provisions invoked

s. 15
s. 19
s. 15H
s. 15I
s. 15J
s. 28A
s. 15I(1)

Regulations relied on

SEBI (PFUTP) Regulations, 2003 — 3(a)
SEBI (PFUTP) Regulations, 2003 — 3(b)
SEBI (PFUTP) Regulations, 2003 — 3(c)
SEBI (PFUTP) Regulations, 2003 — 3(d)
SEBI (PFUTP) Regulations, 2003 — 4(1)
SEBI (PFUTP) Regulations, 2003 — 4(2)(a)

Parties

Ashok Kumar Agarwal

Holding

The Noticee executed 2 non-genuine reversal trades in 1 illiquid stock option contract generating artificial volume of 1,04,000 units, violating Regulations 3(a)-(d) and 4(1), 4(2)(a) of the PFUTP Regulations, 2003 and incurring liability under Section 15HA of the SEBI Act, 1992.

Full text

_____________________________________________________________________________________ Adjudication Order in respect of Ashok Kumar Agarwal in the matter of Illiquid Stock Options at BSE Page 2 of 21

_____________________________________________________________________________________ Adjudication Order in respect of Ashok Kumar Agarwal in the matter of Illiquid Stock Options at BSE Page 3 of 21

_____________________________________________________________________________________ Adjudication Order in respect of Ashok Kumar Agarwal in the matter of Illiquid Stock Options at BSE Page 4 of 21

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Source: SecMarx — sebi:Order/MA/AS/2021-22/15505. 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.