SEBI finds 45 fake trades in 12 stock options, creating 22,08,000 units of artificial volume
This order addresses SEBI's findings that Ranika Investments Pvt Ltd executed non-genuine reversal trades in illiquid stock options on the BSE, creating artificial trading volume. It details the adjudication process and the specific violations of SEBI regulations regarding fraudulent and unfair trade practices.
Ranika Investments Pvt Ltd (PAN: AAACR5548K)
- SEBI found that the Noticee executed 45 non-genuine trades in 12 stock option contracts.
- These trades resulted in the creation of artificial volume totaling 22,08,000 units.
- The alleged violations include 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 Noticee did not respond to the Show Cause Notice or attend the hearing, leading SEBI to presume the allegations were admitted.
- The order notes that the Noticee's trades constituted 33.33% to 100% of total trades in the specific contracts involved.
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Document details
| Official title | Adjudication Order in respect of Ranika Investments Pvt Ltd in the matter of Illiquid Stock Options |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | Order/AK/GN/2026-27/32432 |
| Status | closed (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |