SEBI finds 6 non-genuine trades creating 2,58,000 unit artificial volume

This order addresses SEBI's investigation into Aastha Ruia Beneficial Trust for executing non-genuine trades in illiquid stock options on the BSE, which created artificial trading volume. SEBI examined whether these actions violated regulations prohibiting fraudulent and unfair trade practices.

Aastha Ruia Beneficial Trust (PAN: AAETA4128P), represented by Vineet Ruia.

• SEBI found that the Noticee executed 6 non-genuine trades in 3 stock option contracts, resulting in an artificial volume of 2,58,000 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 Noticee was offered three settlement schemes (2020, 2022, and 2024) but did not avail any of them.
• The Noticee appeared for a hearing on July 02, 2026, and submitted that they had no records of the transactions and suggested the broker might be responsible.
• SEBI noted that the Noticee's claim of delay in proceedings was meritless, citing that no specific timeline is prescribed in the SEBI Act for identifying non-genuine trades.

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