Sebi slaps Rs40 lakh fine on 8 entities
Capital markets regulator Sebi has imposed penalties totalling Rs 40 lakh on eight entities, including individuals, for indulging in non-genuine trades in illiquid stock options at BSE.
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New Delhi: Capital markets regulator Sebi has imposed penalties totalling Rs 40 lakh on eight entities, including individuals, for indulging in non-genuine trades in illiquid stock options at BSE.
In eight separate orders, the regulator levied a fine of Rs 5 lakh each on Nikita Rungta, Aakash Prakash Shah, Abha Mohunta, Aachman Vanijya, Abhi Portfolio, A C Agarwal Commodities, Vinay Ramanlal Shah HUF and Vinodkumar M Jain.
The Securities and Exchange Board of India (Sebi) observed large scale reversal of trades in stock options segment of BSE. It noted that such large scale reversal of trades in stock options lead to creation of artificial volume at BSE.
In view of the same, the regulator conducted an investigation into the trading activities of certain entities in illiquid stock options at BSE for the period April 2014 to September 2015.
