Adjudication Order in respect of Fatmabibi Yusufbhai Rangwala in the matter of Illiquid Stoc…

This order addresses SEBI's findings that Fatmabibi Yusufbhai Rangwala executed non-genuine reversal trades in illiquid stock options on the BSE, creating artificial volume. The Adjudicating Officer proceeded ex-parte because the Noticee failed to respond to notices or appear for hearings.

Fatmabibi Yusufbhai Rangwala (PAN: ASUPR4609Q)

• SEBI found that the Noticee executed 2 non-genuine trades in 1 stock options contract, resulting in an artificial volume of 1,40,000 units.
• The trades were alleged to violate 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 matter was decided ex-parte under Rule 4(7) of the SEBI Adjudication Rules because the Noticee did not file a reply to the Show Cause Notice or avail the opportunity for a personal hearing despite multiple notices.
• The order notes that the Noticee did not avail the SEBI ISO Settlement Schemes of 2022 or 2024.

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