SEBI imposes a penalty of ₹5 lakh on Bhagat Ram Agarwal HUF for executing non-genuine reversal trades in illiquid stock options on BSE.
The entity executed reversal trades in a single stock option contract, generating artificial volume of 208,000 units, constituting 30.23% of the total volume in that contract.
The Adjudicating Officer found violations of PFUTP Regulations and imposed a monetary penalty, rejecting the entity's defenses of delay and lack of jurisdiction.