SEBI finds 5 fake trades by Nitin Jain created 14.52 lakh artificial units
This order addresses SEBI's investigation into Nitin Jain for executing non-genuine reversal trades in illiquid stock options on the BSE, which created artificial trading volume. SEBI examined whether these actions violated regulations prohibiting fraudulent and unfair trade practices.
Nitin Jain (PAN: ABGPJ1359J)
- SEBI found that Nitin Jain executed 5 non-genuine trades in 2 stock option contracts, resulting in an artificial volume of 14,52,000 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 Relating to Securities Market) Regulations, 2003.
- The Noticee did not avail of the SEBI Settlement Scheme 2022 or the ISO Settlement Scheme 2024 despite being offered the opportunity.
- The Noticee failed to respond to the Show Cause Notice or attend hearings, leading SEBI to proceed ex-parte and presume the allegations were admitted.
- The order is an adjudication proceeding under Section 15-I of the SEBI Act, 1992.
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Document details
| Official title | Adjudication Order in respect of Nitin Jain in the matter of Illiquid Stock Options on BSE |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | Order/AK/RK/2026-27/32342 |
| Status | closed (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |