SEBI adjudication order imposes ₹5 lakh penalty on Ritu Overseas Private Limited for executing 23 non-genuine trades in illiquid stock options on BSE.
Noticee created artificial volume of 25.82 lakh units across 7 contracts during April 2014-September 2015 investigation period through reversal trades.
Violations established under Regulations 3(a),(b),(c),(d) and 4(1),4(2)(a) of SEBI PFUTP Regulations 2003 for creating false market appearance.
Noticee failed to respond to show-cause notices or avail two settlement schemes offered in 2022 and 2024, resulting in ex-parte proceedings.