sebi:Order/MC/HP/2021-2022/12846
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Facts / Headnote
Penalty imposed
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Regulations
- Reg. 3
- Reg. 6
- Reg. 4(1)
- Reg. 3(a)
- Reg. 4(2)(a)
Holding
The Noticee violated Regulation 3(a), 4(1) and 4(2)(a) of the PFUTP Regulations by executing non-genuine reversal trades in illiquid BSE stock options and is liable to monetary penalty under Section 15HA of the SEBI Act, with a penalty of Rs. 7,00,000 imposed.
Full text
Adjudication Order in the matter of dealing in Illiquid Stock Options on the BSE Page 2 of 16 Regulation 4(1), 4(2)(a) SEBI (Prohibition of Fraudulent and Unfair Trading Practices related to Securities Markets) Regulations, 2003 (hereinafter referred to as, “PFUTP Regulations”).
Adjudication Order in the matter of dealing in Illiquid Stock Options on the BSE Page 3 of 16 b) The Noticee is alleged to have engaged in 128 such reversal trades in 48 unique contracts, which led to generation of alleged artificial volume of 1,47,10,764 units, between January 05, 2015 and September 28, 2015.
Adjudication Order in the matter of dealing in Illiquid Stock Options on the BSE Page 4 of 16 9. DLFL15SEP110.00CEW1 2.60 120000 10.90 120000 100% 100%
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Source: SecMarx — sebi:Order/MC/HP/2021-2022/12846. 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.