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Sebi imposes Rs 32.5 lakh fine on four entities for fraudulent trade

Sebi imposes Rs 32.5 lakh fine on four entities for fraudulent trade

Posted On : Thursday, March 28, 2019, 2:33 PM
Regulator Sebi slapped a total fine of Rs 32.5 lakh on four entities for fraudulent and manipulative trading in illiquid stock options segment on the BSE. Probing the period from April 2014 to September 2015, Sebi found that 81.38 percent of the trades executed in the bourse's stock options segment were non-genuine and led to the creation of the artificial volume. The investigation revealed that the four entities were among those that executed reversal of trades by reversing their buy or sell positions in a contract with the same counterparty during the same day.
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