The commands came after the Securities and Exchange Board India F India (SEBI) saw the BSE’s eclicid stock options segment after seeing the contrast of the widespread trade, which created an artificial volume.
Subsequently, the monitoring of the markets conducted an investigation into the trading activities of certain organizations in equid stock options on BSE for the period from April 2014 to September 2015.
According to SEBI, the opposite trade is a trade in which an entity opposes its purchase or sale status, which is in agreement with the position with subsequent sales or the same equivalent.
The contrary trade is alleged to have a non-genuine trade because they lack the basic trade logic and allegedly lead to a false or misleading appearance of the trade, causing artificial volume, the regulator said in the order.
Sebi said, “Trading behavior of the notice (seven entities) confirms that such trade was not normal, showing that the executioned deals were not the original trade and, as non-genuine, created the appearance of the volume of artificial trade in the relevant agreement.”
Accordingly, these seven organizations settled the standards of PFUTP (fraudulent and improper trade practices), added.
In a different order, the regulator imposed a fine of Rs 1 lakh on Nikhil Dayanand Baljekar (SEBI-Registered Research Analyst) for violating market standards.
The order came after Sebi inspected the books of the accounts in the context of Nikhil Dayanand Baljekar.
The monitoring period was from April 2022 to January 2024. Observations were conducted to check if the research analyst (RA) and its colleagues/ employees promised RA to investigators for any assurance compensation and maintenance.
On Tuesday, Sebi imposed a fine of Rs 4 lakh for regulatory standards on Basant Maheshwari Wealth Advisors LLP (BMWL).
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