sebi:Order/PB/AS/2021-22/15045
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Facts / Headnote
Penalty imposed under section 15HA of the SEBI Act, 1992
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 3
- Reg. 3(a)
Parties
- Beena Agarwal
Holding
The Noticee violated regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the PFUTP Regulations, 2003 by executing non-genuine reversal trades in illiquid stock options creating artificial volume, and a monetary penalty of Rs. 5,00,000 under section 15HA of the SEBI Act, 1992 was imposed.
Full text
Page 2 of 22 therefore were alleged to be manipulative and deceptive in nature. In view of the same, SEBI initiated adjudication proceedings against the Noticee for violation of the provisions of regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 (hereinafter referred to as “PFUTP Regulations, 2003”).
Page 3 of 22 S. No. Contract Name Avg. Buy Rate (₹) Total Buy Volume (No. of units) Avg. Sell Rate (₹) Total Sell Volume (No. of units) % of Non Genuine trades of Noticee in the contract to Noticee's Total trades in the Contract % of Non Genuine trades of Noticee in the contract to Total trades in the Contract % of Artificial Volume generated by Noticee in the contract to Noticee's Total Volume in the Contract % of Artificial Volume generated by Noticee in the contract to Total Volume in the Contract 1 ALBK15MAR90.00CEW2 15.5 10000 21 10000 100 14.29 100 3.7 2 BHEL15MAR260.00CEW2 8 15000 12.5 15000 100 100 100 100 3 DISH15MAR100.00PEW2 11 16000 18 16000 100 13.33 100 3.77 4 DISH15MAR65.00CEW2 12 16000 18 16000 100 5.88 100 1.59 5 DISH15MAR95.00PEW2 12 4000 7 4000 100 100 100 100 6 DLFL15MAR140.00CEW2 13.5 20000 19.5 20000 100 100 100 100 7 DLFL15MAR170.00PEW2 10.5 10000 17 10000 100 50 100 38.46
Page 4 of 22 7. The SCN was served on the Noticee via Speed Post Acknowledgement Due (SPAD) and via email dated November 03, 2021. Vide email dated December 01, 2021, enclosing hearing notice dated December 01, 2021, Noticee was granted opportunity of personal hearing on December 16,
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Source: SecMarx — sebi:Order/PB/AS/2021-22/15045. 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.