sebi:Order/VV/DD/2023-24/28757
Facts / Headnote
Violation established; penalty of Rs.5,00,000 imposed under Section 15HA
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 28A
Regulations relied on
- SEBI (PFUTP) Regulations, 2003 — 3(a)
Parties
- Seth Leasing P Ltd
Holding
The Adjudicating Officer held that Seth Leasing P Ltd violated Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a) of the PFUTP Regulations by executing non-genuine reversal trades in illiquid stock options on BSE and imposed a penalty of Rs.5,00,000 under Section 15HA of the SEBI Act.
Full text
Adjudication Order in respect of Seth Leasing P Ltd in the matter of dealings in Illiquid Stock Options on BSE Page 2 of 17 to as “Noticee”) was one such various entities whose reversal trades involved squaring off transactions with significant difference in the sell value and buy value of the transactions. In view of the same, SEBI initiated adjudication proceedings against 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 relating to Securities Market) Regulations, 2003 (hereinafter referred to as “PFUTP Regulations”).
Adjudication Order in respect of Seth Leasing P Ltd in the matter of dealings in Illiquid Stock Options on BSE Page 3 of 17
Adjudication Order in respect of Seth Leasing P Ltd in the matter of dealings in Illiquid Stock Options on BSE Page 4 of 17 APPOINTMENT OF ADJUDICATING OFFICER
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