SEBI Imposes Rs 55 Lakh Fine on 11 Entities for Non-Genuine Trades

The Securities and Exchange Board of India (SEBI) has imposed fines totaling Rs 55 lakh on 11 entities found engaging in non-genuine trades within the illiquid stock options segment on the Bombay Stock Exchange (BSE).

In a series of separate rulings, SEBI fined Kamala Agarwal, Kamla Devi Bajoria, Kamla Jain, Kamaljeet Kour, Kamal Ramprasad Gupta, Kamal Kumar, Kamlesh Ahuja, Kailash Narottamdas Anam, Sanjay Kumar Daga HUF Pragma Suppliers Pvt Ltd, and Aromatic Tie Up Pvt Ltd Rs 5 lakh each.

These penalties were imposed following SEBI’s detection of large-scale reversal trades in the illiquid stock options segment on the BSE, which artificially inflated trading volumes on the exchange.

SEBI conducted an investigation into the trading activities of certain entities within this segment spanning from April 2014 to September 2015.

The entities now facing fines were among those involved in these reversal trades, as noted in SEBI’s 11 separate rulings issued on Thursday.

Reversal trades are considered non-genuine because they occur in the regular course of trading, creating a false or misleading appearance by generating artificial trading volumes, according to SEBI.

By engaging in such practices, these entities were found to be in violation of the PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) norms.

In a separate ruling on Wednesday, SEBI imposed fines totaling Rs 20 lakh on two entities for violating disclosure rules related to IFL Promoters Ltd.

Additionally, SEBI suspended the registration of 3M Team Research Pvt Ltd for a period of one year due to regulatory norm violations.

These actions by SEBI underscore the regulator’s commitment to maintaining the integrity and transparency of India’s financial markets.

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​
Daily Index & Stock Option Research On Whatsapp

Tags:

2 Comments
Show all Most Helpful Highest Rating Lowest Rating Add your review
  1. Wow, fantastic weblog structure! How long have you
    been running a blog for? you made running a blog glance easy.
    The total glance of your web site is excellent, let alone the content!
    You can see similar: e-commerce and here sklep

  2. It’s very interesting! If you need help, look here: hitman agency

    Leave a reply

    Share Price India News
    Logo