SEBI finds 4 non-genuine trades creating 9.6 lakh artificial units in Ajitnath Steels case
This order addresses SEBI's findings that Ajitnath Steels Pvt Ltd executed non-genuine reversal trades in illiquid stock options on the BSE, creating artificial volume. It details the procedural history and the Adjudicating Officer's decision to proceed ex-parte due to the company's non-response.
Ajitnath Steels Pvt Ltd (PAN: AACCA7201N)
- SEBI found that the Noticee executed 4 non-genuine trades in one stock option contract (AMBC15MAR270.00PE).
- These trades resulted in an artificial volume of 9,60,000 units.
- The alleged non-genuine trades constituted 16% of the Noticee's total trades in that contract and 100% of the volume it generated in that contract.
- The Adjudicating Officer noted that the Noticee did not reply to the Show Cause Notice or appear for hearings despite multiple opportunities.
- The case is being proceeded ex-parte, with allegations presumed admitted based on the lack of response.
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Document details
| Official title | Adjudication Order in respect of Ajitnath Steels Pvt Ltd in the matter of Illiquid Stock Options |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | Order/AK/GN/2026-27/32411 |
| Status | closed (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |