SEBI adjudication order imposes ₹5 lakh penalty on Sagarotharaka Vanijya for executing 30 non-genuine trades in illiquid stock options on BSE.
Noticee created artificial volume of 20,12,000 units across 15 contracts through reversal trades with same counterparties during April 2014-September 2015.
Violations established under Regulations 3(a),(b),(c),(d) and 4(1),4(2)(a) of SEBI PFUTP Regulations for creating false market appearance.
Order issued ex-parte after multiple failed service attempts and no response from Noticee to show-cause notice and hearing opportunities.