sebi:Order/RJ/PG/2021-22/14535
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Facts / Headnote
Penalty imposed on Noticee
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15I
- s. 15J
- s. 11C
- s. 28A
- s. 15I(1)
Regulations
- Reg. 4
- Reg. 3
- Reg. 2(1)(c)
- Reg. 3(a)
Parties
- Surendra Kumar Gupta HUF
Holding
The Noticee violated Regulations 3(a), 3(b), 3(c), 3(d), 4(1) and 4(2)(a) of the PFUTP Regulations, 2003 by executing non-genuine reversal trades in stock options, and a penalty of Rs. 5,00,000 was imposed under Section 15HA of the SEBI Act, 1992.
Full text
Adjudication Order in respect of Surendra Kumar Gupta HUF. Page 2 of 20 indulged in execution of non-genuine trades in Stock Options Segment of BSE during the investigation period. The following points narrate the dealings of the Noticee during the investigation period and the allegations against the Noticee for execution of non-genuine trades.
Adjudication Order in respect of Surendra Kumar Gupta HUF. Page 3 of 20 genuine trades and thereby allegedly generated artificial volume of 30,000 units which is 100% of the total volume traded in the said contract in the market during the Investigation Period.
Adjudication Order in respect of Surendra Kumar Gupta HUF. Page 4 of 20 SHOW CAUSE NOTICE, REPLY AND HEARING 9. A Show Cause Notice (hereinafter referred to as ‘SCN’) bearing ref. no. SEBI/HO/EFD2/PROS/P/OW/2021/22619/1 dated September 06, 2021 was served upon the Noticee under Rule 4 of the Adjudication Rules, 1995 to show cause as to why an inquiry be not held against Noticee in terms of Rule 4 of the Adjudication Rules, 1995 and penalty be not imposed under Section 15HA of the SEBI Act, 1992 for the violations alleged to have been committed by iṭ. The SCN was sent to the Noticee vide Speed Post AD and was duly served on the Noticee as per the Tracking details obtained from the India Post website.
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Source: SecMarx — sebi:Order/RJ/PG/2021-22/14535. 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.