sebi:Order/SD/MH/2021-22/15321
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Facts / Headnote
Penalty imposed on Noticee for violation of PFUTP Regulations, 2003
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 13(4)
- Reg. 3
- Reg. 3(a)
Parties
- Indra Kumar Daga HUF
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 an illiquid stock option contract, 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 Indra Kumar Daga HUF in the matter of dealings in Illiquid Stock Options at the BSE Page 2 of 20 appearance of trading in terms of artificial volumes in stock options and therefore were alleged to be manipulative, deceptive in nature. In view of the same, SEBI initiated adjudication proceedings against the Noticee for violation of the provisions of Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003 (hereinafter referred to as “PFUTP Regulations, 2003”).
Adjudication Order in respect of Indra Kumar Daga HUF in the matter of dealings in Illiquid Stock Options at the BSE Page 3 of 20 in which the Noticee allegedly executed non genuine trades during the I.P, is as follows:
Adjudication Order in respect of Indra Kumar Daga HUF in the matter of dealings in Illiquid Stock Options at the BSE Page 4 of 20
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Source: SecMarx — sebi:Order/SD/MH/2021-22/15321. 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.