sebi:Order/PB/2021-22/14749

SEBI · SEBI · 2021-07-02 · Pradip Bhowmick, Adjudicating Officer

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Facts / Headnote

Adjudication proceedings disposed of; no penalty imposed; Noticee not found in violation

Provisions invoked

• s. 15
• s. 19
• s. 15H
• s. 15J

Regulations

• Reg. 3
• Reg. 3(a)

Parties

• Neha Sethi

Holding

The Adjudicating Officer found that there was insufficient material to conclude that the Noticee created false and misleading appearance of trading or generated artificial volume by means of reversal trades, and therefore the Noticee was not in violation of Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the PFUTP Regulations, 2003, and no penalty was imposed.

Full text

Adjudication Order in respect of Neha Sethi in the matter Page 2 of 20 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 Sethi in the matter Page 3 of 20 of dealings in Illiquid Stock Options at BSE under Rule 4(1) of the Adjudication Rules to show cause as to why an inquiry 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 Sethi in the matter Page 4 of 20 of dealings in Illiquid Stock Options at BSE Kala’ placed at 11:43:39.222475 hrs at the same rate and for 36,000 units. This indicates that these trades are artificial and are non-genuine in nature.

Source: SecMarx — sebi:Order/PB/2021-22/14749. 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.