sebi:Order/VV/DD/2023-24/28763
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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
- 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
- Seva Bhawan Private Limited
Holding
Noticee Seva Bhawan Private Limited 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 is liable to a monetary penalty of Rs.5,00,000 under Section 15HA of the SEBI Act.
Full text
Adjudication Order in respect of Seva Bhawan Private Limited in the matter of dealings in Illiquid Stock Options on BSE Page 2 of 15 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 Seva Bhawan Private Limited in the matter of dealings in Illiquid Stock Options on BSE Page 3 of 15 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 Seva Bhawan Private Limited in the matter of dealings in Illiquid Stock Options on BSE Page 4 of 15
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