sebi:Order/PM/SM/2020-21/10282
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Facts / Headnote
Adjudication proceedings disposed of pursuant to settlement order dated January 14, 2021
Provisions invoked
- s. 15H
Regulations
- Reg. 3
- Reg. 26
Parties
- Manav & Company
Holding
The Adjudication Proceedings initiated against Manav & Company vide SCN No. EAD6/PM/AB/ISO/OW/27199/1/2018 dated September 27, 2018 are disposed of in view of the settlement order passed by SEBI.
Full text
Adjudication Order in respect of Manav & Company in the matter of Illiquid Stock Options on the BSE Page 2 of 3 and adjudge under the provisions of section 15HA of the SEBI Act, 1992 for the aforesaid alleged violations against the Noticee.
Adjudication Order in respect of Manav & Company in the matter of Illiquid Stock Options on the BSE Page 3 of 3 ORDER 6. In view of the above, the Adjudication Proceedings initiated against the Noticee i.e. Manav & Company vide SCN No. EAD6/PM/AB/ISO/OW/27199/1/2018 dated September 27, 2018 are disposed of.
SHOW CAUSE NOTICE, HEARING AND REPLY 3. A Show Cause Notice ref. EAD6/PM/AB/ISO/OW/271999/1/2018 dated September 27, 2018 (hereafter referred to as SCN) was issued to the Noticee in terms of the provisions of rule 4 of the Adjudication Rules, 1995 requiring the Noticee to show cause as to why an inquiry should not be held against it and why penalty, if any, should not be imposed on it under the provision of section 15HA of the SEBI Act, 1992 for alleged violation of regulations 3 (a), (b), (c), (d) and 4(1), 4(2)(a) of the PFUTP Regulations, 2003. The Noticee was alleged to have engaged in 33 reversal trades in 11 unique contracts which led to generation of artificial volumes which created false and misleading appearance of trading and generated artificial volumes in the stock options segment of the BSE during the investigation period during April 1, 2014 to September 30, 2015, in violation of the aforesaid PFUTP Regulations, 2003.
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Source: SecMarx — sebi:Order/PM/SM/2020-21/10282. 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.