sebi:Order/VV/DD/2023-24/28760
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Facts / Headnote
Penalty imposed; violations of PFUTP Regulations established
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 28A
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 4(2)
- Reg. 3(a)
- Reg. 26
- Reg. 2(1)(c)(2)
- Reg. 2(1)(c)(7)
- Reg. 2(1)(c)(8)
Parties
- Seema Agarwal
Holding
The Adjudicating Officer held that Noticee Seema Agarwal 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 Seema Agarwal in the matter of dealings in Illiquid Stock Options on BSE Page 2 of 16 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 Seema Agarwal in the matter of dealings in Illiquid Stock Options on BSE Page 3 of 16 onetime scheme for this class of person. The terms of settlement should be attractive so that it could attract the noticees/entities to come forward and settle the matter which will ameliorate the harassment of penalty proceedings to the noticees and at the same time would help to clear the backlog of these pending matters before various AOs”.
Adjudication Order in respect of Seema Agarwal in the matter of dealings in Illiquid Stock Options on BSE Page 4 of 16 12. Show Cause Notice dated August 03, 2022 (hereinafter be referred to as, the “SCN”) was issued to Noticee thorough digitally signed email dated August 12,2022, under Rule 4 of the Adjudication Rules read with Section 15-I of the SEBI Act, to show cause as to why an inquiry should not be held and penalty be not imposed against Noticee under Section 15HA of the SEBI Act for the alleged violations of Regulations 3(a), (b), (c), (d), 4(1), and 4(2)(a) of the PFUTP Regulations by Noticee.
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Source: SecMarx — sebi:Order/VV/DD/2023-24/28760. 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.