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Sebi imposes Rs 1.55 cr fine on 2 entities for fraudulent trading

Both the entities were indulged in execution of such alleged non-genuine trades and created a misleading appearance of trading in the illiquid stock options contracts

Sebi
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Accordingly, Sebi penalised Ashlar Commodities and Ashlar Securities for violating the provisions of PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) Regulations

Press Trust of India New Delhi
Markets regulator Sebi on Monday imposed a total penalty of Rs 1.55 crore on two entities for indulging in fraudulent trading in illiquid stock options on the BSE.

Sebi levied a fine of Rs 84 lakh and Rs 71 lakh on Ashlar Commodities Pvt Ltd and Ashlar Securities Pvt Ltd, respectively, in two separate orders.

After observing large-scale reversal of trades in the illiquid stock options segment of the BSE, the Securities and Exchange Board of India (Sebi) conducted a probe between April 2014 and September 2015.

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First Published: Jun 22 2020 | 6:42 PM IST

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