SEBI finds 8 non-genuine reversal trades in 4 stock option contracts

This order addresses SEBI's findings that Sonia Chadha executed non-genuine reversal trades in illiquid stock options on the BSE, creating artificial volume. It details the adjudication proceedings and the specific violations of SEBI regulations regarding fraudulent and unfair trade practices.

Sonia Chadha (PAN: AACPC8962H); Bombay Stock Exchange (BSE) (as the venue of the trades); SEBI (as the regulator).

• SEBI found that Sonia Chadha executed 8 non-genuine reversal trades in 4 stock option contracts.
• These trades resulted in the creation of artificial volume totaling 88,000 units.
• The alleged violations occurred between April 1, 2014, and September 30, 2015.
• SEBI alleged violations of Regulations 3(a), (b), (c), (d), 4(1), and 4(2)(a) of the PFUTP Regulations, 2003.
• The Noticee did not avail of the SEBI ISO Settlement Schemes of 2022 or 2024.
• The Noticee claimed inability to retrieve records from 2014-15 due to tax law retention limits, but SEBI noted she had previously confirmed receipt of the Show Cause Notice and annexures.

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

The original document