SEBI finds 30 fake trades creating 20,12,000 units artificial volume

This order addresses SEBI's findings that Sagarotharaka Vanijya Private Limited executed non-genuine reversal trades in illiquid stock options on the BSE, creating artificial volume. SEBI determined these actions violated regulations prohibiting fraudulent and unfair trade practices.

Sagarotharaka Vanijya Private Limited (PAN: AAPCS4843R)

• SEBI found the Noticee executed 30 non-genuine trades in 15 stock option contracts.
• These trades resulted in the creation of artificial volume of 20,12,000 units.
• SEBI alleged violations of Regulations 3(a), (b), (c), (d), 4(1), and 4(2)(a) of the PFUTP Regulations, 2003.
• The Noticee did not respond to the Show Cause Notice or attend the hearing, leading to an ex-parte proceeding where allegations were presumed admitted.
• The order is an Adjudication Order under Section 15-I of the SEBI Act, 1992.

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