New Delhi, Mar 31 (PTI) Capital markets regulator Sebi on Thursday slapped penalties totalling Rs 50 lakh on ten entities for indulging in non-genuine trades in illiquid stock options segment on BSE.

In ten separate orders, the regulator imposed a fine of Rs 5 lakh each on Sarita Agrawal, Sanjay Garg, Ajay Gupta, Sanjay Kumar Poddar HUF, Padma Singhal, Pushpa Devi Soni, Priti Jain, Shubham Bansal, Sanjay Godha and Milestone Tie Up Pvt Ltd.

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The orders came after Sebi observed large-scale reversal trades in the stock options segment on BSE, leading to creation of artificial volumes in the segment.

By indulging in such trades in stock options, they flouted the provisions of PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) regulations.

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The Securities and Exchange Board of India (Sebi) conducted an investigation into the trading activity in illiquid stock options from April 2014 to September 2015 after observing large-scale reversal of trades in the stock options segment on BSE.

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