SEBI adjudication order imposes ₹5 lakh penalty on Plastika Industries for executing 8 non-genuine reversal trades.
Noticee created artificial volume of 500,000 units in 2 BSE stock option contracts during April 2014-September 2015 period.
Violations found under Regulations 3(a),(b),(c),(d) and 4(1),4(2)(a) of SEBI PFUTP Regulations for manipulative trading practices.
Order issued ex-parte after multiple service attempts and no response from the noticee to show cause notice.