Emblem Tradelink Penalized Rs 5 Lakh for Illiquid Options Manipulation

SEBI adjudicating officer imposes Rs 5 lakh penalty on Emblem Tradelink for executing non-genuine reversal trades in BSE stock options.
Noticee executed 4 reversal trades creating 2.76 lakh units of artificial volume in one contract during April 2014-September 2015 investigation period.
Trades violated PFUTP Regulations 3(a),(b),(c),(d) and 4(1),4(2)(a) by creating false appearance of trading through synchronized transactions.
Order was issued ex-parte after noticee failed to respond to multiple show cause notices and public notice publications.