Saffire Exports SEBI Penalty for Illiquid Options Trading

SEBI adjudication order imposes a ₹5 lakh penalty on Saffire Exports And Agency Private Limited for executing 36 non-genuine reversal trades in illiquid stock options on BSE.
The trades, executed between April 2014 and September 2015, created an artificial volume of 33.48 lakh units across 7 contracts, violating multiple PFUTP Regulations.
The noticee did not avail of two separate settlement schemes offered in 2022 and 2024, leading to the resumption and conclusion of ex-parte adjudication proceedings.
The order finds violations of SEBI PFUTP Regulations 3(a), (b), (c), (d), 4(1), and 4(2)(a) for creating a false appearance of trading through manipulative practices.