SEBI adjudication order imposes ₹5 lakh penalty on Prachi Tradevine Pvt Ltd for executing 8 non-genuine reversal trades in illiquid stock options on BSE.
The trades created artificial volume of 1,67,000 units across 4 contracts during April 2014-September 2015 investigation period, violating PFUTP Regulations.
Noticee failed to avail two settlement schemes (2022 & 2024) offered by SEBI following SAT directions, leading to resumed adjudication proceedings.
Order finds violations of Regulations 3(a),(b),(c),(d) and 4(1),4(2)(a) of PFUTP Regulations through synchronized trading with same counterparties.