SEBI adjudication order imposes ₹5 lakh penalty on S K Garments for executing 7 non-genuine reversal trades in illiquid stock options on BSE.
The trades created artificial volume of 9.32 lakh units across 3 contracts during April 2014-September 2015 investigation period.
Noticee violated PFUTP Regulations 3(a),(b),(c),(d), 4(1) and 4(2)(a) by engaging in deceptive trading practices with predetermined counterparties.
Order was issued ex-parte after Noticee failed to respond to show cause notice or avail two settlement scheme opportunities.