Prabhat Penalized ₹5 Lakh for Illiquid Options Manipulation

SEBI imposes ₹5 lakh penalty on Prabhat for executing 20 non-genuine reversal trades in BSE's illiquid stock options.
The trades created artificial volume of 1.64 crore units across 6 contracts during April 2014-September 2015 investigation period.
Violations established under Regulations 3(a),(b),(c),(d) and 4(1),4(2)(a) of SEBI PFUTP Regulations through ex-parte proceedings.
Order cites Supreme Court and SAT judgments on synchronized trading as evidence of prior meeting of minds and market manipulation.