sebi:Order/VR/SS/2022-23/16016
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Facts / Headnote
Violations of PFUTP Regulations found; monetary penalty imposed under Section 15HA of the SEBI Act
Provisions invoked
- s. 15
- s. 19
- s. 15H
- s. 15J
- s. 11C
- s. 28A
- s. 24
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 2(1)
- Reg. 4(2)(a)
- Reg. 3(a)
- Reg. 2(1)(c)(8)
Parties
- Vinod Kumar Kothari and Sons HUF
Holding
The Noticee was found to have violated Regulations 3(a), 3(b), 3(c), 3(d), 4(1) and 4(2)(a) of the PFUTP Regulations by executing non-genuine reversal trades in illiquid stock options contracts on BSE, and a monetary penalty was imposed under Section 15HA of the SEBI Act.
Full text
2 Adjudication Order in respect of Vinod Kumar Kothari and Sons HUF in the matter of Dealing in Illiquid Stock Options at BSE Ltd.
3 Adjudication Order in respect of Vinod Kumar Kothari and Sons HUF in the matter of Dealing in Illiquid Stock Options at BSE Ltd.
4 Adjudication Order in respect of Vinod Kumar Kothari and Sons HUF in the matter of Dealing in Illiquid Stock Options at BSE Ltd. 2015, at 15:08:15.76 hrs, the Noticee entered into a buy trade with counterparty Yochana Vyapaar Pvt. Ltd. for 3,04,000 units at ₹ 3.60 per unit, which was reversed by a sell trade at 15:08:20.66 hrs with the same counterparty for 3,04,000 units at ₹ 4.90 per unit. It is alleged that two trades for 6,08,000 units executed by the Noticee in the said contract on May 13, 2015 were non-genuine.
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Source: SecMarx — sebi:Order/VR/SS/2022-23/16016. 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.