SEBI finds 96,000 artificial units from 2 reversal trades in Ellenbarrie Tea Company case

This order addresses SEBI's investigation into The Ellenbarrie Tea Company Limited for allegedly executing non-genuine reversal trades in illiquid stock options on the BSE, which created artificial trading volume. SEBI examined whether these actions violated regulations prohibiting fraudulent and unfair trade practices.

The Ellenbarrie Tea Company Limited (PAN: AAACE5769M)

• SEBI alleged the Noticee executed 2 non-genuine reversal trades in 1 stock option contract, resulting in an artificial volume of 96,000 units.
• The trades were alleged to violate Regulations 3(a), (b), (c), (d), 4(1), and 4(2)(a) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003.
• The investigation period covered April 1, 2014, to September 30, 2015.
• The Noticee did not avail of the SEBI ISO Settlement Schemes of 2022 or 2024.
• The Noticee failed to respond to the Show Cause Notice served via public notice on March 20, 2026, despite being given 14 days to reply.

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