SEBI finds 81.40% of BSE stock options trades non-genuine during 2014-2015

This order addresses alleged manipulative trading by Amritphal Mercantile Private Limited in the stock options segment of the Bombay Stock Exchange (BSE) between April 2014 and September 2015. SEBI found that the company executed non-genuine reversal trades that created artificial trading volume.

Amritphal Mercantile Private Limited (PAN: AAHCA4645F)

• SEBI found that the Noticee executed 7 non-genuine trades in 1 stock options contract, resulting in an artificial volume of 2,24,000 units.
• The trades were alleged to be manipulative and deceptive, violating 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 did not file a reply to the Show Cause Notice (SCN) or appear for hearings, leading SEBI to proceed ex-parte and presume the charges were admitted.
• The Noticee did not avail of the SEBI Settlement Scheme, 2022, or the ISO Settlement Scheme, 2024, despite multiple extensions and notifications.

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