sebi:Order/SD/KS/2021-22/15158

SEBI · SEBI · 2021-07-06 · Sandeep P Deore, Adjudicating Officer

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Facts / Headnote

Penalty of Rs.5,00,000 imposed under Section 15HA for violation of PFUTP Regulations

Provisions invoked

• s. 15
• s. 19
• s. 15H
• s. 15J
• s. 28A

Regulations

• Reg. 3
• Reg. 4
• Reg. 4(1)
• Reg. 3(a)

Parties

• Ms. Shubhra Gupta

Holding

The Noticee violated Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of PFUTP Regulations, 2003 by executing non-genuine reversal trades in illiquid stock options at BSE and is liable to 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 18 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 18 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 18/02/2015 SHUBHRA GUPTA MWF Logistics Private Limited 15:06:42.927984 15:06:42.888462 15:06:42.927984 230 3750 18/02/2015 MWF Logistics Private Limited SHUBHRA GUPTA 15:06:50.089816 15:06:50.128002 15:06:50.190245 390 3750

Adjudication Order in the matter of Dealings in Illiquid Stock Options at BSE Page 4 of 18 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

Source: SecMarx — sebi:Order/SD/KS/2021-22/15158. 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.