sebi:Order/SD/KS/2021-22/15130
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Facts / Headnote
Penalty of Rs.5,00,000 imposed on the Noticee under Section 15HA of the SEBI Act for violation of Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations, 2003
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 28A
Regulations
- Reg. 3
- Reg. 4(1)
- Reg. 3(a)
Parties
- Ms. Shruti Deora
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 and is liable to a monetary penalty of Rs.5,00,000 under Section 15HA of the SEBI Act.
Full text
Adjudication Order in the matter of Dealings in Illiquid Stock Options at BSE Page 2 of 14 the investigation period. In view of the large scale reversal of trades that were observed in the illiquid Stock Options segment at BSE, it is alleged that these trades were non-genuine in nature.
Adjudication Order in the matter of Dealings in Illiquid Stock Options at BSE Page 3 of 14 Noticee under the provisions of section 15HA of the SEBI Act. The SCN issued to the Noticee, inter alia, mentioned the following-: i. It is noted that Noticee was one of the various entities which were indulged in execution of such alleged non-genuine trades in Stock Options Segment of BSE during the Investigation period. Following points deal with the dealings of Noticee during the Investigation period and allegations against it for execution of non-genuine trades. Date Buyer Seller Buy Order Time Sell Order Time Trade Time Trade Rate (Rs.) Trade Quantity 03/06/2015 SHRUTI DEORA NANDITA DUTTA 14:34:00.036982 14:33:59.974257 14:34:00.036982 7.2 40000 03/06/2015 NANDITA DUTTA SHRUTI DEORA 14:33:17.880149 14:33:17.833585 14:33:17.880149 11 40000
Adjudication Order in the matter of Dealings in Illiquid Stock Options at BSE Page 4 of 14 was manipulative and deceptive in nature. Therefore, in view of above, it is alleged that the Noticee has violated Regulation 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations, 2003
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Source: SecMarx — sebi:Order/SD/KS/2021-22/15130. 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.