sebi:Order/SU/VA/2021-22/15789
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Facts / Headnote
Noticee found in violation of PFUTP Regulations, 2003; penalty imposed under section 15HA of SEBI Act
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 15I
- s. 11C
- s. 15F
- s. 28A
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 4(1)
- Reg. 3(a)
- Reg. 3(1)
- Reg. 3(4)
- Reg. 3(d)
- Reg. 3(b)
- Reg. 52
- Reg. 3(c)
Parties
- Priti Jain
Holding
The Noticee, Priti Jain, was found to have executed 3 non-genuine reversal trades in 1 illiquid stock option contract (NTPC15APR170.00PEW4) on BSE, generating 56,000 units of artificial volume constituting 100% of total market volume in that contract, in contravention of PFUTP Regulations, 2003.
Full text
Adjudication Order in respect of Priti Jain in the matter of dealings in Illiquid Stock Options at BSE Page 2 of 35 significant difference without any basis for such change in the contract price. The aforesaid reversal trades allegedly resulted into generation of artificial volumes, leading to allegations that the Noticee had violated the provisions of regulations 3(a),(b),(c),(d) and regulations 4(1),4(2)(a) of the SEBI (Prohibition of Fraudulent and Unfair Trading Practices related to Securities Markets) Regulations, 2003 (hereinafter referred to as “PFUTP Regulations, 2003”).
Adjudication Order in respect of Priti Jain in the matter of dealings in Illiquid Stock Options at BSE Page 3 of 35 S. No . Contract Name Avg . Buy Rat e (Rs. ) Total Buy Volu me (no. of units ) Avg . Sell Rat e (Rs. ) Total Sell Volu me (no. of units ) % of Non Genuin e trades of Notice e in the contra ct to Notice e’s Total trades in the Contra ct % of Non Gen uine trade s of Entit y in the cont ract to Total trade s in the Cont ract % of Artifici al Volum e genera ted by Notice e in the contra ct to Notice e’s Total Volum e in the Contra ct % of Artificia l Volume generat ed by Noticee in the contract to Total Volume in the Contrac t 1 NTPC15APR 170.00PEW4 9.5 28,0 00 17.0 9 28,0 00 100% 100 % 100% 100%
Adjudication Order in respect of Priti Jain in the matter of dealings in Illiquid Stock Options at BSE Page 4 of 35 26,000 units at 14:02:46 hrs at the same time as the limit order entered by Agro Commodity Pvt Ltd.
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Source: SecMarx — sebi:Order/SU/VA/2021-22/15789. 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.