SEBI abates case against Anju Rani over illiquid stock options trade

The proceedings were abated (terminated) without a decision on the merits because the noticee passed away during the pendency of the case.

Who it concerns: Ms. Anju Rani (PAN: AJCPR9744F)

What SEBI found or ordered

• SEBI alleged that the noticee executed 2 non-genuine reversal trades in 1 stock options contract, creating an artificial volume of 20,000 units.
• The alleged violations were under 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 held that the proceedings abate upon the death of the noticee, citing the legal maxim 'actio personalis moritur cum persona' (personal action dies with the death of the person).
• The Show Cause Notice dated August 31, 2021, was disposed of without going into the merits of the case.
• No penalty was imposed due to the abatement of the proceedings.

Also in the document

• The noticee, Ms. Anju Rani, passed away on January 12, 2025, which was verified by SEBI via a death certificate submitted by her son.
• The broader investigation involved 14,720 entities and 2,91,744 trades, but this specific order concerns only the individual noticee.
• The order was issued on July 14, 2026, by Adjudicating Officer Medha Sonparte.