Adjudication Order in respect of Excel Technovation Pvt Ltd in the matter of Illiquid Stock Options
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What is this order about?
SEBI issued an order against Excel Technovation Pvt Ltd for allegedly executing non-genuine trades in illiquid stock options on BSE, creating artificial volume during April 2014 to September 2015.
Who it concerns
Excel Technovation Pvt Ltd (PAN: AAACE3703B)
What was found or directed
- Executed 46 non-genuine trades in 23 stock options contracts
- Artificial volume of 12,92,000 units created
- Violated PFUTP Regulations 3(a), (b), (c), (d), 4(1) and 4(2)(a)
- Deemed admission of charges due to lack of reply
- Monetary penalty to be determined
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | Order/AK/GN/2026-27/32481 |
| Status | closed (section: order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |
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Documents
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Order
2026-07-13
ORDER_1783924258.pdf
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