Sebi disposes of case against three entities in illiquid stock options

MUMBAI: Securities and Exchange Board of India (Sebi) on Tuesday disposed of adjudication proceedings against three entities af ter they settled cases related to alleged fraudulent trading activities in the illiquid stock options segment on the BSE.

The entities that have settled the cases with the regulator are Open Futures and Derivatives Pvt Ltd, Raj Ratan Smelters Pvt Ltd and Quest Partners.

According to three separate orders, it was alleged that the entities were indulged in non-genuine trades and created a false and misleading appearance of trading in the stock options segment.

Thereaf ter, the regulator initiated adjudication proceedings and issued show-cause notices to them for alleged violation of provisions of the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) Regulations.

The entities had filed applications for settlement.