Latest News | Sebi Slaps Rs 10 Lakh Fine on 2 Entities

New Delhi, Mar 24 (PTI) Capital markets regulator Sebi on Thursday imposed penalties totalling Rs 10 lakh on two entities for indulging in non-genuine trades in illiquid stock options segment on BSE.

In two separate orders, the regulator levied a fine of Rs 5 lakh each on Dee Kartavya Finance Ltd and Rajendra Prasad Agarwal HUF.

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The Securities and Exchange Board of India (Sebi) had conducted an investigation into the trading activities of certain entities engaged in illiquid stock options on BSE from April 2014 to September 2015.

Pursuant to the probe, it was revealed that these entities were among those that indulged in execution of reversal trades in the segment that created artificial volumes.

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

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)