SEBI finds 2,91,744 non-genuine BSE stock options trades in 2014-2015

This order disposes of adjudication proceedings against Dilip Kumar Gupta HUF regarding alleged manipulative trading in illiquid stock options on the BSE. The proceedings were terminated because the HUF ceased to exist as a legal entity due to a family partition.

Dilip Kumar Gupta HUF (PAN: AADHD8826N); Mr. Rahul Gupta (son of the late Dilip Kumar Gupta and Karta of the HUF)

• SEBI observed that the Noticee executed 3 reversal trades in 1 contract, creating an artificial volume of 96,000 units in the BSE stock options segment between April 1, 2014, and September 30, 2015.
• SEBI alleged these trades were non-genuine and violated 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 Dilip Kumar Gupta died on February 27, 2022, and the HUF underwent a partition on June 7, 2022, causing the entity to cease to exist.
• The adjudication proceedings were declared infructuous and disposed of without imposing a penalty.

Written from the document by AI, and checked against it. The original below is authoritative.

The original document