SEBI adjudication order penalizes SIC Stocks Services Rs 5 lakh for executing 12 non-genuine reversal trades in BSE stock options.
Noticee created artificial volume of 136,000 units across 2 contracts during April 2014-September 2015 investigation period.
Violations established under Regulations 3(a),(b),(c),(d) and 4(1),4(2)(a) of SEBI PFUTP Regulations, 2003.
Order issued ex-parte after multiple failed service attempts and no response from noticee to show cause notice.