SEBI finds 36 fake trades creating 33.48 lakh artificial units in stock options
This order addresses SEBI's investigation into Saffire Exports And Agency Private Limited for allegedly executing non-genuine reversal trades in illiquid stock options on the BSE, which created artificial trading volume.
Saffire Exports And Agency Private Limited (PAN: AAECS0708A)
- SEBI found that the Noticee executed 36 non-genuine trades in 7 stock option contracts, resulting in an artificial volume of 33,48,000 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 avail of the SEBI Settlement Scheme 2022 or the ISO Settlement Scheme 2024.
- 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 cites Section 15HA of the SEBI Act for imposing a monetary penalty.
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Document details
| Official title | Adjudication Order in respect of Saffire Exports And Agency Private Limited in the matter of Illiquid Stock Options on BSE |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | Order/AK/RK/2025-26/32331 |
| Status | closed (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |