SEBI finds 80,000 unit artificial volume in illiquid stock options case
This order addresses alleged manipulative trading in illiquid stock options on the BSE by Padma Singhwani. SEBI initiated proceedings for creating artificial volume through non-genuine reversal trades, but the case was disposed of because the noticee passed away during the pendency of the proceedings.
Padma Singhwani (PAN: BEPPS2291B)
- SEBI alleged that the noticee executed 2 non-genuine trades resulting in an artificial volume of 80,000 units in stock options.
- The alleged violations were under Regulations 3(a), (b), (c), (d), 4(1), and 4(2)(a) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003.
- The Adjudicating Officer determined that the proceedings abate due to the death of the noticee, citing the legal principle that personal actions die with the person.
- The Show Cause Notice dated January 24, 2022, is disposed of without going into the merits of the case.
- A copy of the order is to be sent to SEBI, the last known address of the deceased, and her son, Mr. Suresh Singhwani.
Written from the document by AI, and checked against it. The original below is authoritative.
The original document
Document details
| Official title | Adjudication Order in respect of Late Padma Singhwani in the matter of dealings in Illiquid Stock Options at BSE |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | Order/MS/BK/2026-27/32477 |
| Status | None (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |