SEBI alleges Adhunik Ventures created 206,500 units of artificial volume

SEBI examined whether these actions violated regulations prohibiting fraudulent and unfair trade practices.

Who it concerns: Adhunik Ventures Private Limited (PAN: AAHCA7165L)

What SEBI found or ordered

• SEBI alleged the Noticee executed 4 non-genuine trades in 1 stock options contract, resulting in an artificial volume of 206,500 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 Noticee denied allegations, claiming trades were bona fide and lacked the intent to mislead.
• The Noticee did not avail of the SEBI Settlement Scheme 2022 or the ISO Settlement Scheme 2024.
• The Adjudicating Officer considered the issues of violation and the quantum of monetary penalty under Section 15HA of the SEBI Act, 1992.

Also in the document

• The investigation period covered trades from April 1, 2014, to September 30, 2015.
• SEBI observed that 81.40% of all trades in the BSE stock options segment during this period were allegedly non-genuine across various entities.
• The Noticee attended the hearing on November 6, 2025, and submitted a reply on October 17, 2025.