SEBI adjudicating officer imposes ₹5 lakh penalty on LCI India Ltd for executing non-genuine trades in BSE stock options.
Noticee executed 12 reversal trades creating artificial volume of 457,000 units across 5 contracts during April 2014-September 2015 period.
Violations established under Regulations 3(a),(b),(c),(d) and 4(1),4(2)(a) of SEBI PFUTP Regulations through synchronized trading with counterparties.
Order issued ex-parte after noticee failed to respond to show cause notice or appear for hearing despite proper service.