SEBI Slaps Rs 25 Lakh Penalty On 5 Entities For Non-Genuine Trades
NDTV
The regulator imposed a fine of Rs 5 lakh each on Chitrabai Vasantrao Nikam, Damayanti Jhunjhunwala, Nemichand Kasturchand Jain, Naresh Kumar Agarwal and Chandra Lakshmi Safety Glass Ltd (CLSG).
Capital markets regulator Sebi on Tuesday slapped penalties totalling Rs 25 lakh on five entities for indulging in non-genuine trades in the illiquid stock options segment on BSE.
The regulator imposed a fine of Rs 5 lakh each on Chitrabai Vasantrao Nikam, Damayanti Jhunjhunwala, Nemichand Kasturchand Jain, Naresh Kumar Agarwal and Chandra Lakshmi Safety Glass Ltd (CLSG).
Sebi had observed large scale reversal trades in illiquid stock options segment on BSE, leading to artificial volumes on the exchange. The regulator conducted an investigation into the trading activities of certain entities engaged in the segment from April 2014 to September 2015.
The five entities that have been fined on Tuesday were among those who indulged in the execution of reversal trades.
