SEBI finds 81.40% of BSE stock options trades non-genuine during investigation
This order disposes of adjudication proceedings against Kedar Mal Poddar HUF regarding alleged manipulative trading in illiquid stock options on the BSE. SEBI found that the HUF ceased to exist as a legal entity before the proceedings were concluded, rendering the case infructuous.
Kedar Mal Poddar HUF (PAN: AACHK5074Q)
- SEBI observed that the HUF executed 4 reversal trades creating an artificial volume of 486,304 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 PFUTP Regulations, 2003.
- The HUF was dissolved on September 15, 2017, and the Karta died on January 10, 2020.
- The Adjudicating Officer disposed of the proceedings because the Noticee no longer exists as a legal entity.
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Document details
| Official title | Adjudication Order in respect of Kedar Mal Poddar HUF in the matter of trading in Illiquid Stock Options at BSE |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | Order/MS/SM/2026-27/32689 |
| Status | None (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |