SEBI finds 81.40% of BSE stock options trades non-genuine in 2014-2015 case
This order addresses alleged manipulative trading by Ram Asava HUF in the stock options segment of the Bombay Stock Exchange (BSE) between April 2014 and September 2015. SEBI examined whether these trades created artificial volume and violated regulations against fraudulent and unfair trade practices.
Ram Asava HUF (PAN: AARHR3709J)
- SEBI found that the Noticee executed 4 non-genuine trades in 2 stock options contracts, resulting in an artificial volume of 1,50,000 units.
- 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 Relating to Securities Market) Regulations, 2003.
- The proceedings were conducted ex-parte because the Noticee did not reply to the Show Cause Notice or appear for hearings despite multiple opportunities.
- The order notes that the Noticee did not avail of the SEBI ISO Settlement Schemes of 2022 or 2024.
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Document details
| Official title | Adjudication Order in respect of Ram Asava HUF in the matter of Illiquid Stock Options at BSE |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | Order/MS/SM/2026-27/32662 |
| Status | None (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |