SEBI finds HUF among 14,720 entities with non-genuine trades in illiquid stock options
This order disposes of adjudication proceedings against Sanjay S. Achharya HUF regarding alleged manipulative trading in Illiquid Stock Options on BSE. The proceedings were terminated because the HUF ceased to exist as a legal entity before the final decision was made.
Sanjay S. Achharya HUF (PAN: AAGHA7452L)
- SEBI alleged the HUF executed 2 non-genuine reversal trades creating artificial volume of 1,00,000 units in stock options.
- The HUF was alleged to have 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 Karta of the HUF died on September 09, 2015, and the HUF was dissolved on April 10, 2018.
- SEBI found that the Noticee ceased to exist as a legal entity, rendering the proceedings infructuous.
- The adjudication proceedings and the Show Cause Notice dated November 16, 2021, were disposed of without imposing a penalty.
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Document details
| Official title | Adjudication Order in respect of Sanjay S. Achharya HUF in the matter of dealings in Illiquid Stock Options at BSE |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | Order/MS/KS/2026-27/32712 |
| Status | None (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |