sebi:Order/PM/NS/2022-23/16079

SEBI · SEBI · 2021-06-21 · Prasanta Mahapatra, Adjudicating Officer

Reviewed by Varun Matlani, Advocate — Securities Lawyer practicing in SAT and SEBI

Facts / Headnote

Penalty imposed on the Noticee for violation of PFUTP Regulations

Provisions invoked

s. 15
s. 15H
s. 15I
s. 15J
s. 149

Regulations relied on

SEBI (PFUTP) Regulations, 2003 — 3(a)
SEBI (PFUTP) Regulations, 2003 — 3(b)
SEBI (PFUTP) Regulations, 2003 — 3(c)
SEBI (PFUTP) Regulations, 2003 — 3(d)
SEBI (PFUTP) Regulations, 2003 — 4(1)
SEBI (PFUTP) Regulations, 2003 — 4(2)(a)

Parties

Ritika Enclave Pvt. Ltd

Holding

The Noticee, Ritika Enclave Pvt. Ltd, was found to have violated Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the SEBI (PFUTP) Regulations, 2003 by executing non-genuine reversal trades in illiquid stock options contracts on BSE, and a penalty of ₹5,00,000 was imposed under Section 15HA of the SEBI Act.

Full text

Adjudication Order in respect of Ritika Enclave Pvt. Ltd, in the matter of dealings in Illiquid Stock Options at BSE Page 2 of 20

Adjudication Order in respect of Ritika Enclave Pvt. Ltd, in the matter of dealings in Illiquid Stock Options at BSE Page 3 of 20

Adjudication Order in respect of Ritika Enclave Pvt. Ltd, in the matter of dealings in Illiquid Stock Options at BSE Page 4 of 20

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Source: SecMarx — sebi:Order/PM/NS/2022-23/16079. 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.