sebi:Order/PB/2021-22/14389
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Facts / Headnote
Penalty imposed on Noticee for violation of PFUTP Regulations, 2003
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 28A
Regulations
- Reg. 3
- Reg. 3(a)
- Reg. 201
Parties
- Neha Rathi [PAN: ANLPR3256K]
Holding
The Noticee Neha Rathi was held to have violated Regulations 3(a), 3(b), 3(c), 3(d), 4(1) and 4(2)(a) of the PFUTP Regulations, 2003 by executing reversal trades in illiquid stock options at BSE that created artificial volume, and a monetary penalty of Rs. 5,00,000 was imposed under Section 15HA of the SEBI Act, 1992.
Full text
Adjudication Order in respect of Neha Rathi in the matter Page 2 of 26 of dealings in Illiquid Stock Options at BSE buy value of the transactions. The aforesaid reversal trades allegedly resulted into generation of artificial volumes in otherwise illiquid option contracts.
Adjudication Order in respect of Neha Rathi in the matter Page 3 of 26 of dealings in Illiquid Stock Options at BSE should not be initiated against her and why penalty should not be imposed under Section 15HA of the SEBI Act, 1992 for the violations alleged to have been committed by Noticee.
Adjudication Order in respect of Neha Rathi in the matter Page 4 of 26 of dealings in Illiquid Stock Options at BSE placed at that very second at 11:02:37.715062 hrs at the same rate and for equal quantity. This indicates that these trades are artificial and are non-genuine in nature.
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Source: SecMarx — sebi:Order/PB/2021-22/14389. 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.