SEBI finds 4 fake reversal trades created 2,76,000 units artificial volume
This order addresses SEBI's findings that Emblem Tradelink Private Limited executed non-genuine reversal trades in illiquid stock options on the BSE, creating artificial trading volume. SEBI determined these actions violated regulations prohibiting fraudulent and unfair trade practices.
Emblem Tradelink Private Limited (PAN: AABCE9161A)
- SEBI found that the Noticee executed 4 non-genuine reversal trades in the stock option contract 'DABU15APR270.00PE'.
- These trades resulted in the creation of artificial volume of 2,76,000 units.
- The trades were executed with counterparties Ashok Kumar Baid (HUF) and R Narayan Steel Industries on March 23, 2015.
- SEBI found violations of 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 Noticee did not respond to the Show Cause Notice, leading SEBI to proceed ex-parte and presume the allegations were admitted.
- The order notes that the Noticee's non-genuine trades constituted 14.29% of total trades in that specific contract.
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Document details
| Official title | Adjudication Order in respect of Emblem Tradelink Private Limited in the matter of Illiquid Stock Options at BSE |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | Order/AK/DS/2026-27/32398 |
| Status | None (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |