14,720 entities found with non-genuine BSE stock options trades

This order addresses adjudication proceedings against Sudha V Thakkar for alleged manipulative trading in Illiquid Stock Options on BSE. The proceedings were abated without a decision on the merits because the noticee passed away during the pendency of the case.

Sudha V Thakkar (PAN: AEUPT7605Q); Mr. Jayesh Thakkar (son of the noticee, who submitted the death certificate)

• SEBI observed large-scale reversal of trades in Illiquid Stock Options on BSE between April 1, 2014, and September 30, 2015, creating artificial volume.
• SEBI alleged that Sudha V Thakkar executed non-genuine reversal trades that were deceptive and manipulative in nature.
• SEBI alleged violations of 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 noted that the noticee passed away on February 15, 2024, as verified by a death certificate submitted by her son.
• The adjudication proceedings were abated and the Show Cause Notice dated August 02, 2022, was disposed of without going into the merits of the case.

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