SEBI finds 4 fake trades created 3,64,000 unit artificial volume

This order addresses SEBI's adjudication proceedings against Ambition Plaza LLP for alleged manipulation of the stock options segment at the Bombay Stock Exchange (BSE) between April 2014 and September 2015. SEBI examined whether the entity executed non-genuine reversal trades that created artificial trading volume.

Ambition Plaza LLP (formerly Ambition Plaza Private Limited)

• SEBI alleged that Ambition Plaza LLP executed 4 non-genuine trades in 2 stock option contracts, resulting in an artificial volume of 3,64,000 units.
• SEBI found that these trades were part of a larger pattern where 2,91,744 trades (81.40% of all trades in the segment during the period) were non-genuine.
• The entity is charged with violating 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 avail of the SEBI ISO Settlement Scheme, 2024.
• The Noticee argued that the proceedings were delayed and that the trades were legitimate business activities executed via a broker without knowledge of counterparties.

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