sebi:Order/MC/HP/2020-21/10375
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Facts / Headnote
Adjudication proceeding disposed of pursuant to settlement
Provisions invoked
- s. 15H
Regulations
- Reg. 3
- Reg. 26
Parties
- Jai Ambey Wire Private Limited
Holding
The Adjudication Proceeding initiated against Jai Ambey Wire Private Limited vide SCN No. EAD5/MC/DPS/28544/1/2018 dated October 11, 2018 is disposed of in view of the settlement.
Full text
Adjudication Order in respect of Jai Ambey Wire Private Limited in the matter of dealing in Illiquid Stock Options at BSE
Adjudication Order in respect of Jai Ambey Wire Private Limited in the matter of dealing in Illiquid Stock Options at BSE
Page 2 of 3 SHOW CAUSE NOTICE, REPLY AND HEARING 3. Show Cause Notice No. EAD5/MC/DPS/28544/1/2018 dated October 11, 2018 (hereinafter referred to as ‘‘SCN’’), was served upon the Noticee under Rule 4(1) of the SEBI (Procedure for holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter referred to as ‘‘Adjudication Rules’’) to show cause as to why an inquiry should not be held and penalty be not imposed against the Noticee under Section 15HA of the SEBI Act for the alleged violations of Regulations 3 (a), (b), (c), (d), 4(1) and 4(2)(a) of the PFUTP Regulations. The Noticee was alleged to have engaged in 26 reversal trades in 11 unique contracts which led to generation of artificial volume of 3988072 units which created false and misleading appearance of trading and generated artificial volumes in the stock options segment of the BSE during the investigation period from April 1, 2014 to September 30, 2015, in violation of the aforesaid Regulations.
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Source: SecMarx — sebi:Order/MC/HP/2020-21/10375. 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.