SEBI finds 2,91,744 non-genuine BSE trades by Dinbandhu Construction

The proceedings were disposed of because the company no longer existed as a legal entity at the time the case was initiated.

Who it concerns: Dinbandhu Construction Private Limited (PAN: AACCD8172B)

What SEBI found or ordered

• SEBI observed that 2,91,744 trades (81.40% of total) in BSE stock options between April 2014 and September 2015 were non-genuine and created artificial volume.
• The Noticee was alleged to have executed 8 non-genuine reversal trades in 2 contracts, resulting in an artificial volume of 14,55,000 units.
• SEBI alleged violations of Regulations 3(a), (b), (c), (d), 4(1), and 4(2)(a) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003.
• The Adjudicating Officer found that the Noticee was converted to a Limited Liability Partnership (LLP) and dissolved as a company on April 24, 2019.
• The adjudication proceedings were disposed of because the Noticee was not in existence as a legal entity when the Show Cause Notice was issued on August 04, 2022.

Also in the document

• The Noticee did not respond to the Show Cause Notice nor avail the SEBI Settlement Scheme, 2022.
• The company was converted to Dinbandhu Construction LLP (LLPIN: AAP-0658) with the same registered office address in Kolkata.
• The order was signed by Adjudicating Officer Amit Kapoor on May 26, 2026.