SEBI imposes Rs 5 lakh penalty on Ecospace Suppliers for executing 7 non-genuine reversal trades in BSE's illiquid stock options.
The trades created artificial volume of 22.4 lakh units in one contract, violating multiple PFUTP Regulations provisions.
Noticee executed trades with same counterparties at predetermined prices, indicating prior meeting of minds and collusion.
Order issued after ex-parte proceedings as Noticee failed to respond to multiple show cause notices and hearing opportunities.