Sebi penalises 4 entities in illiquid stock options case
Zee News
The orders came after Sebi observed large scale reversal trades in the stock options segment of BSE, leading to the creation of artificial volume.
New Delhi: Capital markets regulator Sebi on Monday imposed a total fine of Rs 20 lakh on four entities for indulging in non-genuine trades in the case of illiquid stock options on BSE.
In four separate orders, the regulator slapped a fine of Rs 5 lakh each on Prerna Traders Pvt Ltd, Manish Garg HUF, Irawati Enterprises LLP and Abhishek Jain HUF.
The orders came after Sebi observed large scale reversal trades in the stock options segment of BSE, leading to the creation of artificial volume.
In view of the same, the Securities and Exchange Board of India (Sebi) had conducted an investigation into the trading activity from April 2014 to September 2015.
Pursuant to the investigation, it was observed that these entities were among the various others, which indulged in execution of reversal trades in the stock options segment.
