SEBI finds 48.78% artificial volume in Kavita Didwania's BSE trades
This order addresses alleged manipulative trading by Kavita Didwania in illiquid stock options on the BSE, where SEBI found that her reversal trades created artificial volume. The Adjudicating Officer proceeded ex-parte because the Noticee did not respond to notices or appear for hearings.
Kavita Didwania (PAN: ABTPA8605K)
- SEBI found that the Noticee executed 2 non-genuine reversal trades in the contract CESC15APR660.00CE on March 31, 2015.
- These trades resulted in an artificial volume of 2,00,000 units.
- The Noticee did not respond to the Show Cause Notice (SCN) or appear for hearings on May 16, 2023, or July 06, 2023.
- The Adjudicating Officer presumed the allegations were admitted due to the lack of response, citing SAT precedent.
- The order cites violations of Regulations 3(a), (b), (c), (d), 4(1), and 4(2)(a) of the PFUTP Regulations, 2003.
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Document details
| Official title | Adjudication Order in respect of Kavita Didwania in the matter of Illiquid Stock Options at BSE |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | Order/AK/DS/2026-27/32435 |
| Status | closed (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |