SEBI levies Rs 22 lakh fine on 3 entities for fraudulent trade in illiquid stock options
5 years, 2 months ago

SEBI levies Rs 22 lakh fine on 3 entities for fraudulent trade in illiquid stock options

India TV News  

Capital markets regulator Sebi has levied a total penalty of over Rs 22 lakh on three entities for indulging in fraudulent trading in the illiquid stock options segment on the BSE. The regulator imposed a fine of Rs 12.2 lakh on Excell Steel and Rs 5 lakh each on Gokul Financial Advisors Pvt Ltd and Universal Enterprises Ltd. The orders follow a probe conducted by markets regulator from April 2014 to September 2015 after it observed large scale reversal of trades in illiquid stock options segment on the bourse that led to creation of artificial volume. In separate orders, Sebi noted that the entities violated PFUTP regulations by executing reversal trades in the stock options segment.

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History of this topic

SEBI suspends trading of Bharat Global Developers over financial misrepresentation
2 weeks, 3 days ago

SEBI suspends trading of Bharat Global Developers over financial misrepresentation

Deccan Chronicle  

New Delhi: Markets regulator Sebi on Monday suspended trading in Bharat Global Developers Ltd for financial misrepresentation, misleading disclosures, price manipulation, and offloading shares at inflated prices. In fact, such wealth has arisen from misrepresentation of the company's business and financials to general investors and shareholders," Sebi Whole Time Member Ashwani Bhatia said in his 25-page order. Accordingly, Sebi in …

Sebi suspends trading of Bharat Global Developers shares over financial misrepresentation
Top News
2 weeks, 3 days ago

Sebi suspends trading of Bharat Global Developers shares over financial misrepresentation

Hindustan Times  

Markets regulator Sebi on Monday suspended trading in Bharat Global Developers Ltd for financial misrepresentation, misleading disclosures, price manipulation, and offloading shares at inflated prices. The SEBI Bhavan at BKC Bandra in Mumbai Additionally, the regulator has barred the company, its managing director Ashok Kumar Sewada, CEO Mohsin Shaikh and directors --Dinesh Kumar Sharma and Nirali Prabhatbhai Karetha -- and …

Sebi halts trading in Bharat Global Developers over suspected stock price manipulation
Trending News
2 weeks, 3 days ago

Sebi halts trading in Bharat Global Developers over suspected stock price manipulation

Live Mint  

The market regulator has suspended trading in Bharat Global Developers Ltd’s shares until further notice over allegations of fraudulent activities and false disclosures in a rare such action. "The shocking falsities presented by BGDL as legally required disclosures to the exchange expose a clear fraudulent scheme," said Sebi's order, authored by whole-time member Ashwani Bhatia. Regulator's scrutiny Citing Sebi's proactive …

SEBI bans YouTuber Ravinda Balu Bharti for investment scam, slaps ₹9.5 crore fine
3 weeks ago

SEBI bans YouTuber Ravinda Balu Bharti for investment scam, slaps ₹9.5 crore fine

Live Mint  

The Securities and Exchange Board of India has banned YouTube finfluencer Ravindra Balu Bharti and his company from dealing in or accessing the securities markets until April 4, 2025, and slapped a ₹9.49 crore fine for “unlawful gains,” according to a PTI report. Bharti and his three associates allegedly ran an unregistered investment advisory business under the name Ravindra Bharti …

Sebi against exuberance, price manipulations in SME listings; board to discuss it soon: WTM Bhatia
3 weeks, 2 days ago

Sebi against exuberance, price manipulations in SME listings; board to discuss it soon: WTM Bhatia

Live Mint  

Mumbai, Dec 17 Capital markets regulator Sebi wants to prevent exuberance, price manipulations and fraudulent trading practices on the Small and Medium Enterprises exchange, a senior official said on Tuesday. Addressing the India SME Banking Summit here, Whole Time Member Ashwani Bhatia said the regulator's board will be taking up the issue at its forthcoming meeting. "We are cognisant of …

SEBI imposes ₹9 lakh penalty on Reliance Securities for breaching market, stock broker norms
1 month, 1 week ago

SEBI imposes ₹9 lakh penalty on Reliance Securities for breaching market, stock broker norms

Live Mint  

Capital markets regulator Securities and Exchange Board of India on Friday, November 29, penalized Reliance Securities with ₹9 lakh for flouting market norms and stock broker rules. The order came after the regulator and exchanges, NSE and BSE, conducted a thematic onsite inspection of the books of accounts, records, and other documents of authorised persons of Reliance Securities Ltd, a …

SEBI imposes ₹9 lakh fine on Reliance Securities for ‘flouting market norms’
1 month, 1 week ago

SEBI imposes ₹9 lakh fine on Reliance Securities for ‘flouting market norms’

Hindustan Times  

The Securities and Exchange Board of India on Friday imposed a ₹9 lakh monetary penalty on Reliance Securities for “flouting market norms” and stock broker rules. According to a PTI report,the market regulator's order came after National Stock Exchange and Bombay Stock Exchange carried out a thematic onsite inspection of the books of accounts, records and other documents of authorised …

SEBI Imposes Rs 11 Lakh Fine On IIFL Securities For Compliance Failures
4 months, 2 weeks ago

SEBI Imposes Rs 11 Lakh Fine On IIFL Securities For Compliance Failures

Live Law  

The Securities and Exchange Board of India has levied a fine of Rs 11 lakh on IIFL Securities Limited for breaches of various regulatory guidelines under the Securities Contracts Rules and associated SEBI circulars. The SEBI order highlighted that IIFL Securities violated multiple provisions related to margin trading and client fund management. The broker was found to have transferred securities …

SEBI Fines IIFL Securities ₹3 Lakh For Mishandling Client Data
5 months, 1 week ago

SEBI Fines IIFL Securities ₹3 Lakh For Mishandling Client Data

Live Law  

The Securities and Exchange Board of India has imposed a fine of ₹3 lakh on IIFL Securities for failing to maintain due diligence and care in its role as market intermediaries. This penalty arose from the mishandling of client data related to domicile information which impacted stamp duty obligations. Between July 2020 and June 2022, IIFL Securities registered 12,101 instances …

SEBI Fines IFGL Rs. 4 Lakh For Regulatory Breaches And Deficient Investor Grievance System
5 months, 2 weeks ago

SEBI Fines IFGL Rs. 4 Lakh For Regulatory Breaches And Deficient Investor Grievance System

Live Law  

The Securities and Exchange Board of India has fined Delhi-based Indian Finance Guaranty Ltd Rs. The primary issues identified included IFGL's engagement in fund-based activities and multiple deficiencies in its investor grievance redressal system. SEBI mandates that stock brokers must provide a designated email ID exclusively for investor grievances, yet IFGL used the personal email of its CEO and compliance …

SEBI's Power Of Disgorgement: Analysing The Veeram Securities Order
8 months ago

SEBI's Power Of Disgorgement: Analysing The Veeram Securities Order

Live Law  

In January, 2023, Whole Time Member of the Securities and Exchange Board of India passed an order in the matter of Veeram Securities Limited, wherein the noticees were held guilty for executing contra trades in violation of the SEBI Regulations, 2015. The Order directed the noticees in this matter to disgorge the amount of profit made by them upon execution …

Shielding SEBI: On Supreme Court’s ruling and SEBI probe
1 year ago

Shielding SEBI: On Supreme Court’s ruling and SEBI probe

The Hindu  

The Supreme Court of India’s ruling on a batch of petitions, filed in the wake of a U.S.-based short seller’s allegations of malfeasance including stock price manipulation at the Adani group of companies, has squarely tossed the ball back to the markets regulator’s court. The Court has opted to subordinate petitioners’ entreaties to protect larger public interest to its chariness …

SEBI bars Brightcom’s top officials from holding directorial posts; here’s why
1 year, 4 months ago

SEBI bars Brightcom’s top officials from holding directorial posts; here’s why

Live Mint  

Capital markets regulator Securities and Exchange Board of India said in an interim order on Tuesday, August 22, that it has found lapses in Brightcom Group Limited preferential issue of shares. SEBI has barred Suresh Kumar Reddy - the promoter-cum-chairman and managing director of Brightcom Group, along with chief financial officer Narayan Raju from holding directorial posts until further notice. …

Sebi slaps Rs 20 lakh on 4 entities for non-genuine trades
1 year, 6 months ago

Sebi slaps Rs 20 lakh on 4 entities for non-genuine trades

India TV News  

Capital markets regulator Sebi on Thursday slapped penalties totalling Rs 20 lakh on four entities for indulging in non-genuine trades in the illiquid stock options segment on BSE. The regulator imposed a fine of Rs 5 lakh each on Niruben Manojbhai Chudasama, Raj Kumar Lohiya, Nufact Merchandise Pvt Ltd and Nitu Agarwal. Sebi had observed large-scale reversal trades in the …

IIFL Securities shares tank over 18% on Sebi order
1 year, 6 months ago

IIFL Securities shares tank over 18% on Sebi order

Live Mint  

IIFL Securities share price plunged over 18% in early deals on Tuesday after capital market regulator Securities and Exchange Board of India barred the company from taking new clients for 2 years. However, IIFL Securities said that the Sebi’s order does not affect the company's existing business with the existing clients. Read Here: SEBI bars IIFL Securities from taking new …

Sebi slaps ₹25 lakh fine on 5 entities for non-genuine trades
1 year, 8 months ago

Sebi slaps ₹25 lakh fine on 5 entities for non-genuine trades

Live Mint  

The Securities and Exchange Board of India levied penalties amounting to ₹25 lakh on five entities for engaging in fraudulent transactions in the illiquid stock options segment on the Bombay Stock Exchange. As per media reports, in five separate orders, the watchdog levied a fine of ₹5 lakh each on Natraj Dealtrade, Queen Tie-Up Pvt Ltd, Octagon Merchants, Noble Tradelink …

Sebi levies Rs 23 lakh fine on 3 entities for violating open offer norms
2 years, 3 months ago

Sebi levies Rs 23 lakh fine on 3 entities for violating open offer norms

India TV News  

Highlights Sebi levied fines totalling Rs 23 lakh on three entities for violating open offer the promoters of Rammaica comprised Tien Trading Pvt Ltd held a 9.89 per cent stake Tien Trading failed to make an open offer, thereby violating SAST rules Sebi on Friday levied fines totalling Rs 23 lakh on three entities for violating open offer and disclosure …

Sebi penalises Aadhaar Ventures, its directors for flouting market norms
2 years, 4 months ago

Sebi penalises Aadhaar Ventures, its directors for flouting market norms

Live Mint  

Sebi on Monday levied fines on Aadhaar Ventures India Ltd and its directors for violating insider trading rules and listing conditions. Sebi imposed a fine of ₹10 lakh on Aadhaar Ventures India Ltd, its directors -- Jils Raichand Madan, Somabhai Sunderbhai Meena and Jyoti Munver for disclosure lapses. Sebi conducted an early investigation for alleged price manipulation in the scrip …

Sebi Bans 6 Persons from Securities Markets in IIFL Group Front Running Case
2 years, 7 months ago

Sebi Bans 6 Persons from Securities Markets in IIFL Group Front Running Case

News 18  

Markets regulator Sebi on Friday barred six persons from the securities market for up to five years for front running the trades of India Infoline Group. In its order, Sebi has barred Santosh Brijraj Singh, who was a dealer of IIFL Group entity and Adil Gulam Suthar from the market for five years, while it prohibited mule account holders — …

Sebi fines six entities ₹30 lakh in illiquid stock options case
3 years, 1 month ago

Sebi fines six entities ₹30 lakh in illiquid stock options case

Live Mint  

Securities and Exchange Board of India has imposed a penalty of ₹5 lakh each on six entities, totalling ₹30 lakh, for non-genuine trades in illiquid stock options at the BSE. Pursuant to the investigation, it was observed that over 2.91 lakh trades comprising substantial 81.38 per cent of all the trades executed in stock options segment of the BSE during …

SEBI Imposes Rs 3 Lakh Penalty On Raj Kundra, Shilpa Shetty, Viaan Industries For Violating Insider Trading Norms
3 years, 5 months ago

SEBI Imposes Rs 3 Lakh Penalty On Raj Kundra, Shilpa Shetty, Viaan Industries For Violating Insider Trading Norms

Live Law  

The Securities and Exchange Board of India has imposed a penalty of Rs 3 lakhs on Viaan Industries and its promoters Shilpa Shetty and her husband Raj Kundra for violating SEBI Regulations, 2015.The order was passed based on an investigation into the tradings of the company listed in Bombay Stock Exchange during the period 2013- 2015.On October 29, 2015, VIL. …

RPL case: Sebi slaps fine on Reliance, Ambani
4 years ago

RPL case: Sebi slaps fine on Reliance, Ambani

Live Mint  

India’s markets regulator on Friday fined Reliance Industries Ltd and its chairman and managing director Mukesh Ambani a total of ₹40 crore for alleged manipulation in the trading of Reliance Petroleum Ltd’s securities. According to Sebi’s order, RIL executed a well-planned operation with its agents to make undue gains from the trading of its erstwhile listed unit, RPL which was …

IL&FS scam: SEBI slaps Rs 25 lakh fine each on ICRA, CARE; flays rating agencies for failing to exercise due diligence
5 years ago

IL&FS scam: SEBI slaps Rs 25 lakh fine each on ICRA, CARE; flays rating agencies for failing to exercise due diligence

Firstpost  

The Securities and Exchange Board of India also said the default by IL&FS occurred due to “lethargic indifference and needless procrastination and laxity” of these rating agencies. New Delhi: Markets regulator SEBI on Thursday imposed a penalty of Rs 25 lakh each on rating agencies ICRA and CARE for failing to exercise “due diligence” while assigning credit rating to the …

Sebi levies Rs 37.6 lakh fine on 6 firms for fraudulent trading
5 years, 1 month ago

Sebi levies Rs 37.6 lakh fine on 6 firms for fraudulent trading

India TV News  

Capital markets regulator Sebi has levied a total fine of Rs 37.6 lakh on five entities for executing reversal trade in the illiquid stock options segment on the BSE. Vinayaka Finlease Pvt Ltd, Hi-Tech Chemicals Pvt Ltd, Hi-Tech Heritage Ltd, Gradgrind Barter Pvt Ltd, Toplight Commercials Ltd and Wrinkle Marketing Pvt Ltd are the firms facing penalty. The orders come …

Individual settles case of alleged fraudulent trading with Sebi by paying over Rs 2.3 crore
5 years, 1 month ago

Individual settles case of alleged fraudulent trading with Sebi by paying over Rs 2.3 crore

India TV News  

An individual has settled with markets regulator Sebi a case of alleged fraudulent trading in IPOs of IDFC, Sasken and Suzlon by paying over Rs 98 lakh as settlement charges and disgorging over Rs 1 crore of unlawful gains. It was alleged that a group of financiers provided finance to key operators towards making multiple applications in the IPOs and …

SEBI levies Rs 40 lakh fine on 8 entities for fraudulent trading in BSE's illiquid stock options
5 years, 2 months ago

SEBI levies Rs 40 lakh fine on 8 entities for fraudulent trading in BSE's illiquid stock options

India TV News  

Markets regulator Sebi on Wednesday levied a total fine of Rs 40 lakh on eight entities for executing fraudulent trades in illiquid stock options on the BSE. The eight entities fined by the regulator were among the various entities that indulged in the execution of reversal trades in the stock options segment of the course, the orders noted. "The notice, …

SEBI starts probe against Infosys over whistleblower charges
5 years, 2 months ago

SEBI starts probe against Infosys over whistleblower charges

India TV News  

Markets regulator Sebi has begun its probe into alleged non-disclosure of price-sensitive information by Infosys' management and also corporate governance lapses in the wake of serious allegations levelled by a whistleblower, while it is also examining possible insider trading in the company's securities. Meanwhile, leading exchange BSE on Wednesday asked Infosys to explain why it did not make a disclosure …

SEBI levies Rs 20.4 lakh fine on 4 firms for fraudulent trade in illiquid stock options
5 years, 2 months ago

SEBI levies Rs 20.4 lakh fine on 4 firms for fraudulent trade in illiquid stock options

India TV News  

Capital markets regulator Sebi has fined four firms a total amount of Rs 20.4 lakh for carrying out fraudulent trading in the illiquid stock options segment of the BSE. The regulator in separate orders noted that the firms violated provisions of Prohibition of Fraudulent and Unfair Trade Practices by executing reversal trades in the stock options segment of the bourse. …

Sebi slaps Rs 35 lakh fine on promoters, shareholder of RT Exports for violating market norms
5 years, 3 months ago

Sebi slaps Rs 35 lakh fine on promoters, shareholder of RT Exports for violating market norms

India TV News  

Regulator Sebi on Wednesday imposed a total penalty of Rs 35 lakh on promoters of R T Exports Ltd and its shareholder Neelkanth Realors for flouting listing and disclosure requirement norms. "The promoter and promoter group by voting against the resolution ensured the continuation of the related party transaction with Neelkanth Realtors Private Limited," Sebi said. Also, shareholder Neelkanth Realtors …

CG Power scam: SEBI bars Gautam Thapar from stock markets
5 years, 3 months ago

CG Power scam: SEBI bars Gautam Thapar from stock markets

India TV News  

Days after the revelation of fraud at CG Power, market regulator Sebi on Tuesday restrained the company's former Chairman Gautam Thapar and some other board members from accessing the securities market and ordered the appointment of an independent auditor for conducting a detailed forensic audit from 2015-16 onwards. The Security and Exchange Board of India said that in "order to …

Sebi imposes Rs 12 lakh fine on ICICI Bank, compliance officer for disclosure lapses
5 years, 3 months ago

Sebi imposes Rs 12 lakh fine on ICICI Bank, compliance officer for disclosure lapses

India TV News  

Capital markets regulator Sebi on Thursday levied a total fine of Rs 12 lakh on ICICI Bank Ltd and its compliance officer Sandeep Batra for disclosure lapses, including delayed disclosure of binding agreement signed with Bank of Rajasthan. The probe revealed that ICICI Bank failed to disclose the information regarding signing of the binding agreement to the stock exchanges in …

Sebi imposes ₹12 lakh fine on ICICI Bank, compliance officer for disclosure lapses
5 years, 3 months ago

Sebi imposes ₹12 lakh fine on ICICI Bank, compliance officer for disclosure lapses

Live Mint  

Capital markets regulator Sebi on Thursday levied a total fine of ₹12 lakh on ICICI Bank Ltd and its compliance officer Sandeep Batra for disclosure lapses, including delayed disclosure of binding agreement signed with Bank of Rajasthan. The probe revealed that ICICI Bank failed to disclose the information regarding signing of the binding agreement to the stock exchanges in a …

Sebi slaps Rs 15 lakh fine on Kelvin Fincap for flouting market norms
5 years, 5 months ago

Sebi slaps Rs 15 lakh fine on Kelvin Fincap for flouting market norms

India TV News  

Markets regulator Sebi has slapped a fine of Rs 15 lakh on Kelvin Fincap Ltd for failing to notify change in its directorate to BSE and making wrong disclosures regarding preferential allotment. The regulator conducted an investigation into the scrip of Kelvin Fincap between November 2011 and May 2014 and found that the firm had not made prompt disclosure to …

Sebi issued 47 warning letters to mutual fund houses in 2018-19
5 years, 5 months ago

Sebi issued 47 warning letters to mutual fund houses in 2018-19

India TV News  

Sebi issued 47 warning letters to mutual fund houses in the last financial year, and the watchdog in consultation with the central government is examining various issues related to mutual funds on a continuous basis. In a written reply to the Lok Sabha, Union minister Anurag Thakur said that Sebi, in its regulatory oversight, has noticed various irregularities with respect …

Sebi slaps Rs 65 lakh fine on individual for fraudulent trading
5 years, 5 months ago

Sebi slaps Rs 65 lakh fine on individual for fraudulent trading

India TV News  

Markets regulator Sebi Wednesday slapped a fine of Rs 65 lakh on an individual for indulging in fraudulent trading in the illiquid stock options segment at BSE. The order follows a probe conducted by Sebi between April 2014 and September 2015 after it observed that 81.38 percent of all the trades executed in stock options segment of the bourse were …

Fraudulent trade: Sebi imposes Rs 10 lakh fine on four individuals
5 years, 6 months ago

Fraudulent trade: Sebi imposes Rs 10 lakh fine on four individuals

India TV News  

Markets regulator Sebi Monday imposed a total fine of Rs 10 lakh on four individuals for manipulating the share price of Shree Shaleen Textiles Ltd. Anjana Arun Karwa, Jayeshkumar Narottamdas Gandhi, Bharati Jayesh Gandhi, Deval Jayesh Gandhi are the four facing the penalty, as per Sebi's separate orders. The regulator had conducted probe from March 2012 to March 2013 relating …

Sebi fines 4 entities Rs 21 lakh for fraudulent trading in BSE stock options
5 years, 6 months ago

Sebi fines 4 entities Rs 21 lakh for fraudulent trading in BSE stock options

India TV News  

Markets regulator Sebi has imposed a total fine of Rs 21 lakh on four entities for carrying out fraudulent trades in the illiquid stock options segment on the BSE. ENPAR Fortune Pvt Ltd, Flyhigh Exports Pvt Ltd, and Anuj Katta were fined Rs 5 lakh each, while Arham Share Consultants Pvt Ltd has levied a penalty of Rs 6.20 lakh, …

BSE stock options: Sebi fines 2 entities Rs 18 lakh for non-genuine trades
5 years, 6 months ago

BSE stock options: Sebi fines 2 entities Rs 18 lakh for non-genuine trades

India TV News  

Markets regulator Sebi Monday levied a total fine of Rs 18 lakh on two entities for executing non-genuine trades in illiquid stock options segment on the BSE. The two entities -- Shri Radha Krishna Ispat Pvt Ltd and Shiv Parvati Leasing Pvt Ltd -- were fined Rs 10.3 lakh and Rs 7.8 lakh, respectively, as per Sebi's separate orders. After …

Sebi fines 14 individuals Rs 42 lakh for manipulative trade
5 years, 7 months ago

Sebi fines 14 individuals Rs 42 lakh for manipulative trade

India TV News  

Markets regulator Sebi has slapped a total fine of Rs 42 lakh on 14 individuals for executing fraudulent trade in shares of Kushal Tradelink Ltd. "It is established that noticees had contributed to manipulation in the scrip price of KTL, besides trading among themselves and indulging in synchronized and reversal trades, which are manipulative/unfair/fraudulent in nature," Sebi said in an …

SEBI imposes Rs 60 lakh fine on 9 entities for fraudulent trading in scrip of Exdon Trading Company
5 years, 7 months ago

SEBI imposes Rs 60 lakh fine on 9 entities for fraudulent trading in scrip of Exdon Trading Company

Firstpost  

The SEBI conducted an investigation into the trading of the scrip of Exdon between May 2013 and March 2015, and found that the entities were connected to each other. New Delhi: Market regulator SEBI has slapped a total penalty of Rs 60 lakh on nine entities for indulging in manipulative trading in the scrip of Exdon Trading Company Ltd. Out …

Sebi fines individual Rs 5 lakh for non-genuine trade in illiquid stock options
5 years, 7 months ago

Sebi fines individual Rs 5 lakh for non-genuine trade in illiquid stock options

India TV News  

Regulator Sebi on Wednesday imposed a fine of Rs 5 lakh on an individual for carrying out manipulative trades in the illiquid stock options segment on the BSE. The Securities and Exchange Board of India after observing large scale reversal of trades in stock options segment of the bourse conducted an investigation between April 2014 and September 2015. According to …

IL&FS Securities Services moves SAT against Sebi order on Allied Financial
5 years, 8 months ago

IL&FS Securities Services moves SAT against Sebi order on Allied Financial

India TV News  

IL&FS Securities Services Wednesday moved the Securities Appellate Tribunal to direct markets regulator Sebi to annul certain transactions carried out by Allied Financial Services. In February, Sebi had barred Allied Financial and others for misappropriating client securities and a host of other violations. Appearing for IL&FS Securities counsel Gaurav Joshi said there were fraudulent mutual fund transfers carried out by …

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