Sebi slaps Rs 40 lakh on 8 entities for indulging in non-genuine trades

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Sebi slaps Rs 40 lakh on 8 entities for indulging in non-genuine trades - Business Standard

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Capital markets regulator Sebi on Wednesday imposed penalties totalling Rs 40 lakh on eight entities for indulging in non-genuine trades in the illiquid stock options segment on the BSE.

The orders came after the Securities and Exchange Board of India (Sebi) observed large-scale reversal of trades in the illiquid stock options segment of BSE, leading to the creation of artificial volume.

In eight separate orders, the watchdog slapped fines of Rs 5 lakh each on Dwitiya Trading Ltd, Vineeta Kabra, Puneet Sabharwal HUF, Hemant Purshotamdas Gopani HUF, Mudrikaben Pareshkumar Shah, Gopalkrishna Ratanlal Shah HUF, Prabir Saha, and Sudha Jain.