Markets regulator Sebi has imposed a total fine of over Rs 18 lakh on three entities for indulging in fraudulent and manipulative trades in the illiquid stock options segment of the BSE.
The three entities are Kusum Traders, Dinesh Kumar Somani and Sanket Lalit Parikh, according to separate Sebi orders.
A penalty of Rs 5 lakh each has been levied on Kusum Traders and Dinesh Kumar, while Sanket Parikh was fined Rs 8.6 lakh, totalling Rs 18.6 lakh.
In April 2018, Sebi announced to take action in a phased manner against 14,720 entities for fraudulent trades in the illiquid stock options segment and has passed several orders in the past few months against such entities
Disclaimer: No Business Standard Journalist was involved in creation of this content