sebi:Order/VA/VS/2022-23/22324

SEBI · SEBI · 2021-09-27 · Versha Agarwal, Adjudicating Officer

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Facts / Headnote

Abated

Provisions invoked

• s. 15
• s. 19
• s. 15H

Regulations

• Reg. 4(1)
• Reg. 3(a)
• Reg. 26

Parties

• Late Ms. Geeta Devi Navetia

Holding

The adjudication proceedings against the deceased Noticee are abated without going into the merits of the case, and the SCN dated April 05, 2022 issued against her is disposed of accordingly.

Full text

_______________________________________________________________________________ Adjudication order in respect of Late Ms. Geeta Devi Navetia in the matter of dealing in Illiquid Stock Options at BSE Page 2 of 3

_______________________________________________________________________________ Adjudication order in respect of Late Ms. Geeta Devi Navetia in the matter of dealing in Illiquid Stock Options at BSE Page 3 of 3

observed that Noticee had entered into reversal trades with her counterparty which involved squaring off transactions with significant difference in sell value and buy value of the transactions. It was therefore alleged that Noticee had executed the reversal trades, which were non-genuine in nature and have created false or misleading appearance of trading in terms of creation of artificial volume in the Stock Options segment at BSE and therefore, it is alleged that the Noticee has violated the provisions of regulations 3(a), (b), (c), (d) and regulation 4(1), 4(2) (a) of the SEBI (Prohibition of Fraudulent and Unfair Trading Practices relating to Securities Markets) Regulations, 2003 (hereinafter referred to as ‘PFUTP Regulations’). In view of the above reasons, adjudication proceedings have been initiated against the Noticee under the provisions of section 15 HA of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as ‘SEBI Act’). APPOINTMENT OF ADJUDICATING OFFICER

Source: SecMarx — sebi:Order/VA/VS/2022-23/22324. 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.