Sebi imposes over Rs 64 lakh fine on 8 entities for fraudulent trading
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Markets regulator Sebi has levied a total fine of Rs 64.40 lakh on eight entities for indulging in unfair trade practices in the illiquid stock options segment on the BSE.
GKS Technology Park Pvt Ltd, Femina Stock Management, Sagar Constructions, SPFL Securities Ltd, Leelaben Sureshchandra Kachadiaunder, Laxmi Rolling & Strips Pvt Ltd, Mahakaleshwar Mines & Metals Pvt Ltd and South Delhi Promotors Ltd are the entities facing penalty.
Sebi had initiated adjudication proceedings between April 2014 and September 2015 after observing large scale reversal of trades by various entities in the stock options segment of the BSE.
Investigation revealed that the eight entities were among the various entities involved in reversal of buy and sell positions by the clients and counterparties in a contract.
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