Adjudication Order in respect of Ararti Karmakar in the matter of Illiquid Stock Options
Plain-language summary (AI-generated) — a quick read so you don't have to open the full PDF. May contain errors; the original document below is authoritative.
What is this order about?
This order concerns Ararti Karmakar for allegedly executing non-genuine trades in illiquid stock options at BSE, creating artificial volume during April 2014 to September 2015.
Who it concerns
Ararti Karmakar (PAN: BYKPK3038D)
What was found or directed
- Executed 4 non-genuine trades in 2 stock options contracts
- Artificial volume of 2,71,750 units created
- Violated PFUTP Regulations 3(a), (b), (c), (d), 4(1), and 4(2)(a)
- Deemed to have admitted allegations due to lack of response
- Ex-parte proceedings conducted
Points worth noting
- 4 trades involved reversal trades with same counterparty on same day
- Artificial volume contributed 6.38% to 9.2% of total market volume in contracts
- 14,720 entities involved in similar activity during investigation period
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | Order/AK/GN/2026-27/32409 |
| Status | closed (section: order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |
Highlights & Points worth asking
Auto-generated, neutral observations. Auto-generated from public documents. May contain errors. Not legal or financial advice. Always verify against the linked original document. KaunZimmedar is a platform, not an authority.
No automated observations for this document. Read the documents below directly.
Documents
The original government PDF is the authoritative source — shown below, or open it full-screen in a new tab.
Order
2026-05-21
ORDER_1779336634.pdf
Tap “Open the PDF” above to view this document.
Discussion (0)
Citizens discussing these documents. A discussion space — nothing here is verified fact or an official finding. Reading is free; sign in to take part.
Open discussion (0) →