SEBI finds 45 fake trades in 12 stock options, creating 22,08,000 units of artificial volume
This order addresses SEBI's investigation into Ranika Investments Pvt Ltd for allegedly executing non-genuine reversal trades in illiquid stock options on the BSE between April 2014 and September 2015, which created artificial trading volume.
Ranika Investments Pvt Ltd (PAN: AAACR5548K)
- SEBI found that the Noticee executed 45 non-genuine trades in 12 stock option contracts.
- These trades resulted in the creation of artificial volume totaling 22,08,000 units.
- The Noticee is alleged to have violated Regulations 3(a), (b), (c), (d), 4(1), and 4(2)(a) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003.
- The Adjudicating Officer proceeded ex-parte, presuming the allegations were admitted because the Noticee did not respond to the Show Cause Notice or attend the hearing.
- The order cites a broader investigation where 14,720 entities were found to have executed non-genuine trades in the BSE stock options segment during the same period.
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Document details
| Official title | Adjudication Order in respect of Ranika Investments Pvt Ltd in the matter of Illiquid Stock Options |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | Order/AK/GN/2026-27/32432 |
| Status | None (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |